Iron Ore Stockpiles Increase At China's Ports

　　Stockpiles of iron oreincreased at 25 major Chinese ports during the week ending on Nov. 5, accordingto Xinhua's latest iron ore price report, which was released on Tuesday.

　　Inventories of importediron ore at the ports stood at 97.91 million metric tons, up by 540,000 metrictons from a week earlier, the report said.

　　The price index for63.5-percent-grade iron ore imports rose one point to 122 points during theperiod, while the index for 58-percent-grade imports also climbed one point tostand at 104 points, according to the report.

　　With the consumptionoff-season approaching, steel companies may be slow to replenish their stocksof iron ore, as there have already been signs of too much inventory at portsand the current economic turnaround did not signify a fundamental improvementin the country's economic situation, Xinhua analysts said in the report.

　　They forecast thatimport prices of iron ore will fluctuate within a tight range in the near-term,with turnover likely to rise slightly.

　　China, the world's topiron ore consumer and buyer, imported 65.01 million metric tons of the rawmaterial in September, rising 4.1 percent month on month and 7.3 percent fromone year earlier, according to customs data.