WEEKLY: China's iron ore port stocks stay largely stable

Inventories of imported iron ore stockpiled at China's 47 ports under Mysteel's regular tracking stood at 172.26 million tonnes as of May 7, up by a mere 100,500 tonnes or 0.1% on week, according to the latest survey results. When compared with the year-ago level, the portside stocks were 16.7% higher.

In terms of inflow, new iron ore arrivals at the 47 sampled ports jumped by a substantial 2.15 million tonnes or 9.1% on week to 25.81 million tonnes during April 27-May 3. However, slowed iron ore unloading during China's May Day holiday intensified the congestion at ports. By May