WEEKLY: China mills' imported iron ore stocks drop further

Inventories of imported iron ore sintering fines stockpiled at the 64 Chinese steel mills under Mysteel's coverage fell for the second week to 12.7 million tonnes as of February 12, though the on-week decline of 4.6% was smaller than the previous week's 15.8% drop thanks to the recovery of ore replenishment among the mills, Mysteel's latest survey results showed.

After the Chinese New Year (CNY) holiday ended about a week ago, many integrated steelmakers across the country started restocking iron ore to make up for their consumption of the steelmaking material during the long holiday break, which was reflected in the rising trading for the feedstock in the portside market over