WEEKLY: China's iron ore port stocks inch lower

Inventories of imported iron ore stockpiled at China's major 45 ports under Mysteel's regular tracking slipped further by 1.1 million tonnes or 0.8% on week to reach 137.7 million tonnes as of July 10, hitting the lowest level since March 2024, according to Mysteel's latest data. Meanwhile, the portside inventories were also 8% lower than the year-ago level.

During the week ended July 6, the total volume of iron ore arriving at the 45 surveyed ports rose by 1.2 million tonnes or 5.1% on week to 24.8 million tonnes. However, the marked increase has yet to be reflected in portside stocks as congestion at these ports worsened