WEEKLY: China's iron ore port stocks stay elevated

Inventories of imported iron ore stockpiled at China's 47 major ports under Mysteel's regular tracking totaled approximately 177 million tonnes as of April 9, down by a marginal 563,100 tonnes or 0.3% from the previous week, according to the latest survey results. Notably, the portside stocks were still 19.3% higher compared with the level a year ago.

During March 30-April 5, about 27 million tonnes of iron ore arrived at the 47 sampled ports, with the volume rising by 684,000 tonnes or 2.6%. By April 9, 106 vessels were queuing at these ports waiting to be unloaded, 2 more than a week earlier. Meanwhile, iron ore outflows