SHANGHAI: Stockpiles of imported iron ore at China’s major ports fell by 180,000 tonnes from a week earlier to 69.85 million tonnes, industry consultancy Mysteel said on Friday.

The amount of ore originating in Australia rose 11,000 tonnes this week to 22.5 million tonnes, while Brazilian ore stood at 15.5 million tonnes, down 37,000 tonnes from a week earlier.   Indian ore declined 10,000 tonnes to 17.97 million tonnes, Mysteel said.
Iron ore prices in Asia further softened from a week earlier on weak demand, while steel prices in China remained stagnant as the market braced for a downturn on expectations the yuan will firm and on the government’s removal of
export rebates.