China's imported iron ore inventories rise this week

BEIJING (Scrap Monster): China’s iron ore inventories at major ports rose 1 percent this week to hit 93.43 million tonnes, according to a consultancy data.

Indian inventories rose 3.8 percent this week, while shipments from Australia and Brazil also inched up slightly. Imports from the three countries made up 78 percent of the total.          

 According to preliminary customs data released on Friday, imports of iron ore stood at 53.3 million tonnes in May, up 0.8 percent on the month, but traders expect shipments to show a decline in June, Reuters reported.