WEEKLY: China's iron ore port stocks fall to 3-m low

Inventories of imported iron ore stockpiled at China's 47 ports under Mysteel's regular tracking declined for the third straight week to 173.36 million tonnes as of April 23, touching a three-month low, according to the latest survey results. The portside stocks were 1.3 million tonnes or 0.3% lower on week but remained 17.3% higher than the year-ago level.

A total of 98 vessels were queuing at these ports waiting to be unloaded by April 23, 1 vessel fewer than a week ago, indicating eased port congestion from previous weeks. During April 13-19, inflows of the steelmaking feed at the Chinese ports recovered, with the volume of new