Chinese stockpiles of iron ore fall Thursday, July 25, 2013 by Proactive Investors
Chinese stockpiles of iron ore fall
Chinese stockpiles of iron ore has fallen at 25 major ports last week as market participants indicate a pick up in acitivity.
Iron ore 62% in China for immediate delivery at Tianjin port rose 0.4 percent to $132.00 a tonne yesterday.
Inventories of imported iron ore stood at 73.45 million tonnes, down 1.13 percent from the previous week.
The price index for 63.5 percent grade Fe imports rose 6 points from the previous week to 133 points. The index for 58 percent grade iron ore increased 6 points to 117.
The report said iron ore prices will rise marginally in the following week, adding that trading volume is not expected to rise.
Meanwhile, Sichuan Expressway Co. (HKG:017) reported it would invest US$8 billion (or near 50 billion yuan) to build five expressway and infrastructure projects in China.
