WEEKLY: China’s iron ore port stocks fall to 107 mln t

Imported iron ore inventories at China’s 45 major ports refreshed its new low since late October 2016, having eased for the eighth week over June 5-11 by another 56,000 tonnes or 0.5% on week to 106.9 million tonnes, and daily discharge rates at these ports reversed down, according to Mysteel’s latest weekly survey.

Among the total inventories, the Australian iron ore up by 782,000 tonnes or 1.3% on week to about 61.3 million tonnes, but the Brazilian iron ore dipped further by 1 million tonnes or 4.9% on week to about 20.7 million tonnes. Over the survey period, the average daily discharge rate