WEEKLY: China's iron ore port stocks hit over 3.5-yr high

Total inventories of imported iron ore across China's major 45 ports under Mysteel's regular tracking increased for the third straight week to top 154.3 million tonnes as of December 11, higher by 1.3 million tonnes or 0.9% on week and marking the highest level since March 2022, according to Mysteel's latest survey. Compared with the same period last year, the stocks also posted a 3% increase.

During December 1-7, about 24.8 million tonnes of iron ore loaded on 160 carriers arrived at the 45 sampled ports, lower by 2.2 million tonnes or 8.1% from the previous week. By December 12, 107 vessels were waiting for unloading at these surveyed ports, 2 vessels fewer than a