CHINA’S IRON ORE PORT STOCKPILES INCREASE TO A 20-WEEK HIGH

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28-04-2009

   Iron ore stockpiles at China’s discharge ports have risen by 10 Mt over the past two months to over 68 Mt at the end of last week - the first time since November 2008. However, this is still lower than the 4q08 peak of 74.4 Mt. Meanwhile, the spot fob price of iron ore from India is around $53/t compared with $73/t in mid-February.