Latest News:  

English>>Business

China's iron ore stockpiles rise on soft transactions

(Xinhua)

21:23, June 25, 2013

BEIJING, June 25 (Xinhua) -- Iron ore stockpiles at Chinese ports saw a minor increase during the week ending June 24 amid a continued trend of subdued transactions, according to data released on Tuesday.

Inventories of iron ore at 25 major Chinese ports stood at 75.18 million tonnes from June 18 to June 24, marking a week-on-week increase of 520,000 tonnes, or 0.7 percent, according to a report released by Xinhua News Agency.

The price index for 63.5-percent-grade iron ore imports edged up 1 point from the previous week to reach 113 points, while the index for 58-percent-grade iron ore gained 2 points to 104 points.

The report attributed the rises to steel producers' rush to replenish their inventory after the Dragon Boat Festival holiday, which ran from June 10 to 12.

Despite the price rise, the market did not see a significant improvement in trading volume, indicating a continued standoff between buyers and sellers, the report said, adding that prices are expected to fall with the arrival of the slack season for the steel industry.

China, the world's top iron ore consumer and buyer, imported 740 million tonnes of the raw material in 2012, up 8.4 percent year on year, data from the General Administration of Customs show.

We Recommend:

'All in Tuning All in Caravanning' Show

HK's new cruise terminal receives luxury liner

Huawei unveils thinnest smartphone in Singapore

Airbus A350 lands safely from test flight in S. France

Special coverage: China-EU solar row

Highlights of ATC Show 2013

Top 10 luxury villas of China in 2013

Turn rabbit to 'gold' - A young entrepreneur's goal

Hilton to open 120 new hotels in China

Email|Print|Comments(Editor:YanMeng、Zhang Qian)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Special operation members in training

  2. Nanjing MAC conducts parachute training

  3. Best photos of week (June 17 - June 23)

  4. Dog carrying cat down street

  5. Thunder storm visits Beijing

  6. Nightclub girls: Living at night

  7. Fans react prior Uruguay vs Tahit match

  8. Cos girls shining at Kafu Comic-Con

  9. Highlights of luxury China 2013

  10. Chinese investors' happiness and sadness

Most Popular

Opinions

  1. Snowden not on board flight to Cuba
  2. Cause of human rights should ground in reality
  3. Snowden case should not affect Sino-U.S. ties
  4. Chinese consumer spending weakens
  5. Think tank has huge potential for development
  6. Why top scorers in Gaokao choose to go abroad
  7. Mobile Web alters Internet industry
  8. Stocks plunge, analysts eye liquidity
  9. Tight liquidity could hurt banks as WMPs mature
  10. Situation on Korean Peninsula delicately balanced

What’s happening in China

Dog carrying cat down street

  1. China enhances environmental monitoring in 2012
  2. New media major outlet for exposing corruption
  3. Report reveals danger in traditional herbs
  4. Detection dogs sniff out the spotlight
  5. Two drivers probed in drug-driving crackdown