WEEKLY: China mills' import iron ore usage, stocks both rebound

Chinese steelmakers have ramped up their iron ore consumption in recent days to support strong hot metal production, according to the latest survey data from Mysteel. The combination of resilient demand and softening prices has encouraged mills to accelerate their procurement of the raw material, Mysteel Global observed.

The combined daily usage of imported iron ore sintering fines at the 64 Chinese blast-furnace (BF) steel mills under Mysteel's weekly survey rose by 10,700 tonnes/day or 1.7% on week to 642,200 tonnes/day on average during June 18-24, the highest so far this year. This surge in ore consumption was