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Top stories of the day - China Metals - Mar. 6
BEIJING, Mar 05, 2013 (Xinhua via COMTEX) --
1. The iron ore inventories at 25 major Chinese seaports stood at 7
6.87 million metric tons (tonnes) as of March 4, down 680,000 metric t
ons (tonnes), or 0.87 percent, from a week earlier, according to the X
inhua-China Iron Ore Price Index (Xinhua-China IOP Index) released on
Tuesday.
The index, compiled through research and analysis of 25 selected
major seaports, shows that the price index for iron ore imports of 63.
5 percent purity grade fell 5 points week on week to 151 by March 4, w
hile the index for iron ore imports of 58 percent purity grade also we
nt down 6 points to 132.
2. The China Iron Ore Price Index (CIOPI) went up 5.89 points or 1.
18 percent week on week to 502.55 in the period of February 25-March 1
, said the China Iron and Steel Association (CISA) on Wednesday.
In a breakdown, the homegrown iron ore price index was down 1.55
percent week on week to 377.81, while the imported iron ore price inde
x increased 2.21 percent week on week to 570.60 in the five-day period
.
3. About 85 percent of copper cable companies in China believe that
orders in March will increase as copper consumption will recover, fol
lowing the Spring Festival holiday (February 9-15), according to a sur
vey of 21 copper cable companies by the Shanghai Metals Market (SMM),
a leading metal information provider in China.
However, 10 percent of the copper cable companies surveyed hold
a view that March orders are hard to rise and will keep unchanged with
the orders in February.
They noted that cold weather in North China did not turn warm si
gnificantly, which affected the progress of some projects. Meanwhile,
China Southern Power Grid Corp. and State Grid Corp. of China had yet
to start the bids.
The rest 5 percent of copper cable companies said that March ord
ers would fall as copper price would move dramatically in March, dampi
ng the willingness of downstream consumers to increase bookings. (
Edited by Hu Pingchao, hupingchao@xinhua.org)
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