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Iron ore inventories held at Chinese ports fell to 160.4 million tonnes      [2018-04-17]

CLIK research indicates that iron ore inventories held at Chinese ports fell by 731,600 tonnes to 160.4 million tonnes last week, edging away from the record highs struck earlier in the year.

 

Rebar inventories also fell during the week, dropping by 521,600 tonnes to 8.68 million tonnes. The losses in futures followed news that China's Securities Regulatory Commission (CSRC) will allow foreigners to trade in domestic iron ore futures markets starting from May 4. Chinese futures finished mixed in overnight trade with rebar contracts pushing higher while iron ore continued to fall. Compared to the first quarter of 2017, urban fixed asset investment is tipped to have grown 7.6%, down from the 7.9% annual lift seen in the first two months of the year. Industrial output is expected to grow by 6.2% from a year earlier, down from 7.2% in the 12 months to February.


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