WEEKLY: China's iron ore port stocks inch up

Inventories of imported iron ore stockpiled at China's 47 major ports under Mysteel's regular tracking climbed further to reach 179.5 million tonnes as of March 12, according to the latest survey results. Despite a small weekly gain of 524,900 tonnes or 0.3%, the volume refreshed a historical high, up by a significant 20.5% on year.

The volume of new iron ore arrivals at the surveyed ports rebounded sharply last week, rising by 4.7 million tonnes or 21% on week to 27 million tonnes. By Thursday, 112 vessels were queuing at these ports waiting to be unloaded, 3 fewer than a week earlier. On the other