China lifts iron ore imports from Australia in January Thursday, February 06, 2014 by Proactive Investors
China's steel mills lifted imports of iron ore by 27% to 23 million tonnes in January year on year.
China's steel mills lifted imports of iron ore by 27% to 23 million tonnes in January year on year.
This was despite a slow down in the grwoth rate of the second largest economy.
While imports climbed 10% to 820 million tonnes in 2013.
There has been an easing in the price of iron ore in January from circa US$138 a tonne to US$122 a tonne for 62% grade ore.
Stockpiles at Chinese ports have risen to 89.78 million tonnes in the week to Jan. 24, the highest since September 2012.
ANZ Bank mining analysts predict Iron Ore to be stable at $124 a tonne. I doubt we will see the large Iron Prices of last year though, it will be interesting anyway to see Up or down.
TRF Price at posting:
9.0¢ Sentiment: LT Buy Disclosure: Held
