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China's iron ore inventroies increasing on weakened demand
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Reportedly, inventories of iron ore in China are running at high levels due to the slowing demand for steel.
Iron ore inventories began to pile up since Chinese New Year at China's major ports and have exceeded 100 million tons in comparing with 90 million tons last year, which makes it almost out of space for storage.
It is said that the need for imported iron ore is expected to grow in the long run as the grade of the domestic iron ore is declining.
News Date
6/7/2012 1:30:44 PM
reported by
Ren Jhuang
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