WEEKLY: China's iron ore port stocks accumulate during CNY holiday

Inventories of imported iron ore stockpiled at China's 45 major ports under Mysteel's regular tracking rose to 170.9 million tonnes as of February 26, higher by 1.5 million tonnes or 0.9% from February 12, according to the latest survey results. The latest survey period spanned two weeks, covering the nine-day Chinese New Year holiday.

Notably, new iron ore arrivals at Chinese ports slumped last week, with total volume of iron ore arriving at the 45 surveyed ports during February 16-22 falling by a marked 2.7 million tonnes or 11% on week to 21.5 million tonnes, the lowest level in more than three months.