WEEKLY: China's iron ore port stocks rise 2.8% to 118 mln t

The on-week accumulation in imported iron ore stocks at China's 45 major ports under Mysteel's survey expanded to 3.2 million tonnes or 2.8% during December 1-7, also marking the third straight week of rise to reach 118.1 million tonnes. Contributing to higher iron ore stocks were an easing in vessel congestion and lower discharge volumes at these ports.

By December 7, there were 101 iron ore vessels were queuing at the surveyed ports to unload, six fewer than on the prior Thursday, Mysteel's tracking showed. Meanwhile, the volume of iron ore discharged from the same ports decreased to an average of 3 million tonnes/day over December 1-7, retreating by