WEEKLY: Chinese steel mills build up imported iron ore stocks before holiday

Chinese integrated steelmakers have ramped up procurement of imported iron ore sintering fines amid softening ore prices this week, mainly to meet production needs during the upcoming holidays, while their immediate ore demand has expanded only marginally, Mysteel's latest survey showed.

As of September 16, total stocks of imported iron ore sintering fines held by the 64 Chinese blast-furnace (BF) steel mills under Mysteel's tracking had increased for the third straight week to reach 14.4 million tonnes, up by 5% from a week earlier. The recent decline in imported iron ore