Latest News:  

English>>Business

Imported iron ore stockpile drops on weak demand

(Xinhua)

19:25, May 07, 2013

BEIJING, May 7 (Xinhua) -- Stockpiles of iron ore at 25 major Chinese ports dropped slightly in the past two weeks due to weak domestic demand, according to a report released Tuesday by the Xinhua News Agency.

Inventories of imported iron ore at those ports stood at 70.53 million tonnes from April 23 to May 7, down 0.4 percent from the previous week, the report said.

The price index for 63.5-percent-grade iron ore imports dropped 9 points from the previous week to reach 129 points, while the index for 58-percent-grade iron ore dropped 8 points to 113 points.

The report attributed the price drops to flagging domestic demands for imported iron ore products amid poor economic conditions at home and abroad.

"But stockpiles of imported iron ore only saw a slight decline because importers are reluctant to sell at low prices. The supply and demand sides are still in a stalemate," the report said.

It forecast that the imported iron ore market will continue to witness weak performances in the short term.

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 showed.

We Recommend:

Top 10 biggest Chinese companies 2013

Housewives' gold rush keeps price from falling

Models pose for Fuzhou Auto Fair

Antique auto show kicks off in New York

China's CAS to buy 60 Airbus planes

2013 Tianjin auto show kicks off

Email|Print|Comments(Editor:MaXi、Gao Yinan)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. China's J-10 fighters in confrontation drill

  2. Scouts in field billeted training

  3. Photos of the week (April 29 - May 5)

  4. Heavy smog shrouds capital, again

  5. Beijing steps up fight against jaywalkers

  6. Invasive water plants clog S China river

  7. Hot dances of basketball babies

  8. Glamourous elderly ladies in Qipaos

  9. Nongfu Spring to sue over quality claims

  10. Power of housewives’ gold rush doubted

Most Popular

Opinions

  1. Innovation: The engine for development
  2. Rising wages reach a milestone
  3. Japanese PM Abe unable to read situation
  4. North Korea testing limits of tolerance
  5. China's multifaceted financial diplomacy benefits all
  6. H7N9 won't affect China’s economy significantly
  7. Private retirement system to benefit China
  8. Not much stomach for mutton over fear of fake
  9. Bill Gates: Innovation from China boosts agricultural development in Africa
  10. South Korean President Park's US visit carries hope

What’s happening in China

Art of masked baby toys calls for clean air

  1. Residents have no faith in taxi pricing hearing
  2. Victims of Henan building collapse identified
  3. All displaced quake victims resettled
  4. Beijing announces plans to hike taxi fee
  5. Retrial for air steward 'smuggler'