“Chinese iron ore inventory continued to grow at 25 major ports in the week ending September 3, according to the latest iron ore price report from Chinese state news agency Xinhua.
Inventories of imported iron ore rose by 1.86 million tonnes to 102.53 million tonnes.
Xinhua said the iron ore market will continue to be oversupplied in the near-term and that “the downward trend seems irreversible”.
If you enjoy the content at iBankCoin, please follow us on Twitter
