In a report out this week Norwegian analysts at Arctic Securities suggest Chinese iron ore imports are set to spike.The news comes as iron ore inventories at Chinese ports stand at their lowest for more than two years.
According to figures from researcher Antaike Information Development,stockpiles stood at 71.3 million metric tonne on December 21st.That is the lowest level since September 10th 2010.
Oslo based investment bank Arctic said that"The decline in iron ore port stocks should support an increase in Chinese iron ore imports as restocking takes effect."
The bank said that"Although we find the recent surge in iron ore prices as temporary,we think it could have a positive effect on dry bulk stocks near term."
Source:
http://www.steelguru.com/raw_material_news/Chinese_iron_ore_appetite_set_to_return_Analysts/297274.html
