WEEKLY: China iron ore port stocks slip to 150 mlnt

After two weeks of mild increases, imported iron ore stocks at China's major 45 ports under Mysteel's weekly survey had dropped by a large 2.7 million tonnes or 1.8% on week to reach 150 million tonnes as of November 28, according to the latest survey results. Yet, the tonnage was still 34% higher when compared with the year-ago level.

The marked weekly decline in iron ore portside stocks was a combined result of lower ore arrivals and higher discharge volumes, Mysteel Global noted. The total volume of iron ore arriving at these 45 ports slumped by 17.4% from the prior week during November 18-24 to 23 million tonnes. In contrast, over November 21-27, the