China’s Iron Ore Stockpile Increases

SMH reported China’s stockpile of iron ore is continually growing as demand for the metal declines in the country.

As quoted in the market news:

The Port of Qingdao, through which a seventh of all iron ore imports to China pass, has run out of space to take in more goods. Thousands of trucks and dozens of trains have transported iron ore each day from the port in China’s north to hundreds of steel mills to feed the country’s insatiable demand for iron ore.

Click here to read the full SMH report.