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Iron ore piles continue to dwindle

(Global Times)

08:06, July 03, 2012

Total iron ore inventories at China's 30 major ports amounted to 96.81 million tons as of the end of last week, up 950,000 tons compared with the previous week, according to figures released Monday by glinfo.com, a data provider that tracks the steel industry in China.

The country's daily output of crude steel was 1.97 million tons in mid-June, down 1.4 percent compared with the same period in the previous month, according to the China Iron and Steel Association.

The slightly contracted production may indicate a weaker demand for iron ore, analysts say.

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