WEEKLY: China mills' imported iron ore stocks rise further along with larger usage

Inventories of imported iron ore among Chinese steelmakers continued rising in the past week, as mills accelerated ore purchase to meet their higher consumption of the raw material, Mysteel's latest survey showed.

By August 12, stocks of imported sintering fines held by the 64 Chinese blast-furnace (BF) steel mills under Mysteel's tracking climbed for the second straight week to 13.54 million tonnes, up 166,200 tonnes or 1.2% from the prior week. Domestic steelmakers have begun replenishing their iron ore stocks recently, as