The record pace of China’s iron ore imports is likely to slow in the coming months because of high levels of inventories and the country’s growth outlook, Jing Ulrich, JPMorgan Chase & Co.’s Hong Kong-based chairwoman of China equities, said in a note to clients dated yesterday.
Traders have been stockpiling iron ore on speculation that prices will rise, Ulrich said, citing data from the China Iron and Steel Association showing that the top five importers this year are dealers, compared with two or three in previous years.
Source: Bloomberg
No comments:
Post a Comment