WEEKLY: China's iron ore port stocks grow 3% WoW to 126 mln t

Inventories of imported iron ore at China's 45 major ports under Mysteel's tracking recorded the fourth weekly rise to reach 126.2 million tonnes on January 11, with the volume up by a larger 3.8 million tonnes or 3.1% on week compared to the prior period's 2.1% gain. The higher stocks were mainly a result of the higher unloading volume of iron ore at these ports.

Chinese ports received large quantities of iron ore carrier arrivals recently, after overseas iron ore miners beefed up their shipments of the mineral to global destinations including China last month to meet their annual or half-year business goals, Mysteel Global noted. The intensive ore arrivals then led to a