WEEKLY: China mills' imported iron ore stocks surge ahead of national holiday

With China's National Day holiday over October 1-7 just a couple of days away, domestic steel mills have piled up substantial stocks of imported iron ore to ensure smooth production during the long break, new Mysteel data showed.

Over September 19-25, inventories of imported iron ore sintering fines held by 64 Chinese steelmakers under Mysteel's tracking mounted by 1.5 million tonnes or 14% from the prior week to reach 12.4 million tonnes -- the highest since late February. "It is within expectations that steel producers are actively stocking up on imported iron ore these days to