According to the statistics office of the PRC, stocks of imported iron ore in 43 ports of China rose to an all-time high of 100 million 900 thousand tons as of Friday last week. Reported by YIEH.corp. 10 days before that, the amount of ore in the ports was 100 million 250 thousand tons.
The market expects further growth in iron ore stocks unless the central government changes its policy on loans to the steel industry.
Statistics show that steel mills in China cut steel production for the second straight month in February, which could push the central bank to ease the pressure on the credit market started in mid-2013.
Record iron ore reserves have accumulated in Chinese ports
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