Stockpiled iron ore weakens prices downstream

Huge inventories at ports are certain to deal a blow to traders next month, Du Juan reports

As iron ore continues to pile up at ports, and downstream demand dries up, traders and steel companies are facing a situation that could lead to price cuts in May.

China's total iron ore port inventory reached 112.63 million metric tons on April 25, up 66 percent compared with the same period last year, according to data from the Shanghai-based industrial information provider Mysteel.