OREANDA-NEWS. April 28, 2012. China iron ore inventories at 30 ports stood at 96.64 million tons, a reduction of 990,000 tons from a week ago. This figure represented a low level of this year.

There were weekly advances in the stock level at Fangchenggang and Caofeidian ports, by 400,000 tons and 350,000 tons respectively, whereas minor stock declines were noted at Qingdao and Rizhao ports.

A modest gain in the imports of Indian-origin iron ore was largely offset by the reduction in supplies from Brazil and Australia, of 290,000 tons and 300,000 tons respectively. Both the spot prices of domestic ore and imported prices for forward delivery continued to fall. Steelmakers now lack impetus for rebuilding.