Iron ore stocks down 1 pct in Chinese ports -Mysteel

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

31 Oct 2009

Imported iron ore inventories at major Chinese ports decreased by nearly 1 percent on the week to Friday, industry consultancy Mysteel said. Crude steel output in China, the world's top producing country, is likely to match its records in August and September, helping to suck up stockpiles of the steel ingredient despite inflows also hovering around their highest levels.
Iron ore prices in Asia were stable on the week with moderate Chinese demand.
Indian ore with 63-63.5 percent iron was quoted at $94-$96 per tonne basis C&F on Friday, around last week's level.
Of the total 68.15 million tonne iron ore stockpile, 23 million tonnes were shipped from Australia, 19.5 million tonnes from Brazil and 13.04 million tonnes from India, Mysteel said, citing figures obtained from the ports.

Source: Reuters