Iron ore steady

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    BEIJING- Benchmark iron ore futures in China were trading within a thin range on Monday, following the fifth weekly drop in mills’ utilization rates, although falling shipments from Australia supported prices.

    Capacity utilization rates at 163 blast furnaces across China fell for five straight weeks to 82.22 percent last week, data from Mysteel consultancy showed.

    That echoed steel products inventories, which had been piling up for a month and jumped 6 percent as of Jan. 21 from the week earlier, according to Mysteel.