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BI-WEEKLY: China mills’ iron ore stocks, use both rise

Stocks of imported iron ore sintering fines at China’s 64 steel mills under Mysteel’s regular survey continued to increase over November 19-December 2, rising by another 172,300 tonnes or 1% over the fortnight, even though daily consumption had edged up over the same period.
As of December 2, inventories of imported fines at the surveyed mills had climbed to 17.2 million tonnes, Mysteel’s data shows. “The continuous increase in steel mills’stocks occurred mainly because many steelmakers kept procuring additional quantities of ore for maintaining their near-term production when they can still enjoy decent profit margins,”a Shanghai-based market watcher said. In


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