China ports see ore and crude turnaround

China's ports are seeing a turnaround in domestic iron ore and crude demand but expect a further hit in container volumes.

Iron ore inventories in Chinese ports remain steady but mills last week began reducing their own steel inventories for the first time since the onset of the coronavirus, according to the China Port and Harbor Association (CPHA). An official of the port industry lobbying and information group told TradeWinds the CPHA expects this to translate soon into reduced volumes.