WEEKLY: China mills' imported iron ore stocks slip further

Chinese steelmakers' buying interest in imported iron ore weakened as more mills were losing money on their operations, leading to a further dip in their in-plant iron ore stocks, Mysteel's latest survey showed.

As of July 15, total inventories of imported iron ore sintering fines held by the 64 Chinese blast-furnace (BF) steel mills under Mysteel's tracking fell for the third straight week to approximately 13 million tonnes, down 248,700 tonnes or 1.9% on week. Softening steel prices resulting from lackluster steel demand