Latest information as of yesterday shows that Chinese iron ore port stocks have dropped to 78.4 million tonnes.
“Stockpiles at Chinese ports have dropped nearly 30 million tons since Sep-14, currently at 78.4 million tons,” he said in a report on Monday morning.
“The last time iron ore stock piles dropped at a similar pace and level, dry bulk received a much-needed boost in the second half of 2013"
Umetal shows the Chinese iron ore port stocks at 87 million tonnes last Friday
SteelHome shows
Inventory of imported iron ore at 44 Chinese ports dropped
1.3 million tonnes to 85.4 million tonnes as of Friday,
according to consultancy SteelHome, which tracks the data.
Stocks have fallen 16 percent this year.
Mysteel shows the port stocks at 83.31 million tonnes for 41 major ports on Friday
The total iron ore stocks at 41 major ports in China were 83.31Mt (79.69Mt for previous 31 ports), down 1.61Mt from last Friday (down 0.35Mt from this Tuesday), which was the sixth week of continuous decline.
Looks like somebody needs to get out the calculator and work out exactly what the iron ore port stocks are as no report is in agreement.
The good news is that the Chinese will need to start importing more iron ore shortly otherwise the downward curve will only accelerate.
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