News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News". |
31 Jul 2010
Stockpiles of imported iron ore at China's major ports climbed to 75.46 million tonnes this week, up 1 percent from last week, industry consultancy Mysteel said on Friday
Chinese spot iron ore prices have been on the rise since last week,
bolstered by rebounding steel prices and India's ban on exporting iron
ore.
However, most Chinese steel mills and traders have remained cautious
amid thin trading and uncertain demand, despite iron ore prices surging
by 12 percent from mid-July.
Brazilian ores fell by 240,000 tonnes to 16.56 million tonnes from last
week, while Australia-origin ore stocks rose by 320,000 tonnes to 24.97
million tonnes from a week earlier.
Stockpiles of ore from India, which aims to curb exports in order to
meet domestic demand, also gained 410,000 tonnes to 18.96 million tonnes
this week.
Source: Reuters