Iron Ore Prices Tumbles On DCE Post Consistent Inventory Build Across Chinese Ports

  • Oct 21, 2019 AEDT
  • Team Kalkine

Iron ore port stocks witnessed a growth of 0.87 million tonnes in China to stand at 117.51 million tonnes for the week ended 18 October 2019.

  • The steel inventory in China climbed to stand at 13.16 million tonnes (as on 11 October 2019), up by 6.99 per cent against its previous reported period.
  • Iron ore prices took a hit in China post the surge in inventory and fell from the level of RMB 662.50 (Day’s high on 14 October 2019) to the present low of RMB 604.0 (as on today 04:00 PM AEST), a downfall of almost 9 per cent.

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