WEEKLY: China's iron ore port stocks climb slightly

After falling for two consecutive weeks, inventories of imported iron ore stockpiled at China's 47 major ports under Mysteel's regular tracking rose by 829,600 tonnes or 0.5% on week to 177.5 million tonnes as of April 2, according to the latest survey results. Compared with the year-ago level, the portside stocks were also up by 18.8%.

Earlier during the week ending March 29, the 47 sampled ports saw robust new iron ore arrivals, with the volume growing by 2.4 million tonnes or 10.2% on week to 26.3 million tonnes. However, congestion at these ports has eased, as the number of vessels waiting to be unloaded