WEEKLY: China mills' imported iron ore stocks hit 8-mth high

The inventories of imported iron ore sintering fines being nursed by the 64 Chinese steelmakers under Mysteel's regular survey had grown to an eight-month high of 11.7 million tonnes by September 20, logging the third consecutive weekly rise, the latest data show. The volume had swelled by 11.3% on week as steelmakers continued restocking iron ore ahead of the country's upcoming holiday break, Mysteel Global noted.

Chinese steelmakers started building their internal stocks of ore last week, aiming to maintain steady production during the Mid-Autumn Festival and National Day holidays over September 29-October 6, as reported. The mills will be unable to make ore replenishment during the break because most traders and logistics firms generally