WEEKLY: China's iron ore port stocks climb higher

Total iron ore stockpiles across China's major 45 ports under Mysteel's regular tracking rose by another 906,900 tonnes or 0.6% on week to reach 153 million tonnes by December 4, according to the latest survey results. Meanwhile, the current inventories also marked a 1.8% increase on year.

During November 24-30, about 27 million tonnes of iron ore loaded on 165 carriers arrived at the 45 sampled ports, lower by 1.2 million tonnes or 4.2% from the previous week. By December 4, 109 vessels were awaiting unloading at these ports, 3 vessels fewer than a week ago. On