China uses 1B tons IO every year ... port stocks are 100m tons =...

China uses 1B tons IO every year ...
port stocks are 100m tons = 10% of annual use ..just by China
if a 10% port stockpile ..of total annual used by China can drag the Prices down 50% to under $100 by spooking Producers etc into accepting Lower Prices while they still increase STEEL production to RECORD no in China at Cheaper IO prices ..
Thats allowing for Cheaper Steel to be USED in China's economic Infrastructure BUILD by GOV Authorities..

then 100m+ Port stockpile is a VERY STRATEGIC lynch Pin in China's Gov Management of inflationary forces on STEEL prices .

Ie : 10% stockpiled IO indefinitely on China Ports ..will Keep IO prices LOW so CHINA can Build its Country INF CHEAPER !!

why reduce the Pile ????

take away the Port Pile and all hell will brake loose on IO prices UP !!
not good for China and they know it ..
so Build a stockpile ..shove it in our faces to spook us ..and then enjoy Lower Costs for Building .... even tho STEEL Demand is at RECORD levels

very smart very sneaky very Chinese

Ps : also helps knock out the Dirty Low grade producers adding to the pollution problems
so 100m stockpile held by Ports ...is a Win Win for Steel Producers , China infra build and its pollution .