WEEKLY: China's iron ore port stocks stable at elevated levels

Inventories of imported iron ore stockpiled at China's 47 major ports under Mysteel's regular tracking held largely stable on week at 178.9 million tonnes as of March 5, rising by a marginal 35,300 tonnes from the previous week, according to the latest survey results. Nonetheless, the portside ore stocks remained significantly higher compared with the year-ago level, up by 18.6% on year.

New iron ore arrivals at Chinese ports dropped further last week, with the total volume of iron ore arriving at the 47 surveyed ports during February 23-March 1 falling by 910,000 tonnes or 4% on week to sit at a four-month low of 22.3 million tonnes. Nonetheless, 107 vessels