ecns [expanded by feedex.net]
ecns
Imported iron ore stockpiles pick up
http://www.ecns.cn/business/2013/02-26/51450.shtml
Feb 26th 2013, 07:42
2013-02-26 16:42 Web Editor: Gu Liping
comment
Stockpiles of iron ore at 25 major Chinese ports picked up during the week ending Feb. 25 due to increased business activities after the Spring Festival, according to Xinhua's latest iron ore price report on Tuesday.
Inventories of imported iron ore at the ports stood at 77.55 million metric tonnes, up 0.69 percent from a week earlier, the report said.
The price index for 63.5-percent-grade iron ore imports rose one point to 156 points during the period. The index for 58-percent-grade imports also gained one point to 138 points.
The report attributed the rising prices to steelmakers' growing purchase demands after the Spring Festival, combined with relatively tight supplies of the resource.
The report forecast that import prices of iron ore will rise at a milder rate as market demand will remain sluggish after the pick-up during the post-festival period.
China, the world's top iron ore consumer and buyer, imported 740 million metric tons of the raw material in 2012, up 8.4 percent year on year.
The average import price in 2012 dropped 21.6 percent from one year earlier to stand at 128.6 U.S. dollars per metric ton, according to General Administration of Customs data.
You are receiving this email because you subscribed to this feed at http://blogtrottr.com
If you no longer wish to receive these emails, you can unsubscribe here:
http://blogtrottr.com/unsubscribe/qhG/Zc7fXt
No comments:
Post a Comment