WEEKLY: Iron ore stocks exceed 150 mln t at 45 Chinese ports

Inventories of imported iron ore stockpiled at China's major 45 ports under Mysteel's regular tracking moved higher by another 2.3 million tonnes or 1.5% on week to 151.3 million tonnes by November 13, hitting the highest level since March, according to the latest survey results. The current stockpiles, after a seven-week increase, were lower by merely 1% from the year-ago level.

During November 3-9, the volume of iron ore arriving at the 45 ports surveyed dropped by 4.8 million tonnes or 14.8% on week to 27.4 million tonnes. Nonetheless, more vessels were queueing at these ports for unloading due to massive arrivals earlier – 116 vessels by November 13, growing