The world’s biggest buyers of material, China, reported gains on iron ore stockpiles at major ports about 7 percent as steelmakers increased imports since the end of Chinese New Year holidays.
Stocks increased to 61 million tons on Feb 6, compared to 57 million on Jan 23. Stockpiles recorded the highest of 74 million tons in last November.
Iron ore suppliers, BHP Billiton Ltd, Rio Tinto and Vale may benefit from price negotiation with Chinese steelmakers as demand now improved. Source: Yieh.com
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Thursday, February 12, 2009
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