Port side stocks stabalising.

WEEKLY: China's iron ore port stocks hover at over 2-y high

Source: Mysteel Jul 12, 2024 12:30

Iron Ore Inventory

Total inventories of imported iron ore piled at the 45 major ports in China under Mysteel's tracking remained largely stable on week at 149.9 million tonnes during July 5-11, or nudging up by a tiny 2,300 tonnes from the prior week to hover at the highest level since mid-April 2022, Mysteel's latest survey showed. Meanwhile, the volume was 18% higher than a year earlier.Over the latest survey period, the total volume of iron ore discharged daily from these 45 ports had grown for the second week to reach around 3.1 million tonnes/day on average, but the on-week gain of 0.1% had slowed from the prior survey period's 0.5%.