STOCKPILES CLIMB TO 98.5 MILLION T IN CHINA AND IRON ORE COMES DOWN

Iron ore prices lost more than 4% of their value on Tuesday, as China’s port inventories have started piling up.

The drop comes as stockpiles in China, the world’s biggest buyer, climbed 1.2% to 98.5 million tons last week, the highest in more than a year, according to Shanghai Steelhome Information Technology Co.