WEEKLY: China's iron ore port stocks dip for 2nd week

Total inventories of imported iron ore stockpiled at the 45 Chinese major ports under Mysteel's tracking fell for the second straight week during August 2-8, with the volume down by 462,500 tonnes or 0.3% on week to reach 150 million tonnes. The stocks were still 21% higher compared with the year-ago level, however.

Behind the latest small on-week dip in ore stocks was higher discharge rates at these ports. Mysteel's shipment tracking showed that during August 1-7, the volume of iron ore discharged from these ports grew by 96,300 tonnes/day or 3.2% on week to average 3.1 million t/d after the prior