WEEKLY: China's iron ore port stocks see long-lost increase

After falling during the previous five weeks, inventories of imported iron ore stockpiled at China's major 45 ports under Mysteel's regular tracking rebounded over June 6-12, with the volume rising by 1.1 million tonnes or 0.8% on week to reach 139.3 million tonnes, according to Mysteel's latest data. Nonetheless, the inventories were still 6% lower than the year-ago level.

The recent increase in portside stocks was a combined result of rising arrivals and falling outflows. During June 2-6, about 26.1 million tonnes of iron ore arrived at the 45 surveyed ports, the largest weekly amount since late March this year while marking an on-week uptick of 728,000 tonnes