Iron ore stock levels at various Chinese ports slipped in first week of April according to local sources.
Inventories of sea borne iron ore at the ports stood around 72.2 million tons, decreasing by 240,000 tons from a week earlier, sources said.
Spot iron ore prices are also stable as trading activities were limited on Chinese tomb sweeping holidays. Markets have opened with a positive note with billet and re-bar prices showing strength.
Current prices for Fe 63.5/63 stands at around $135-137/t CFR. Market sources also mention that iron ore coming from sea borne market will fall in mid of April.
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