WEEKLY: China's iron ore port stocks dip slightly

Inventories of imported iron ore stockpiled at China's 47 ports under Mysteel's regular tracking registered 171.89 million tonnes as of May 14, inching down by 365,300 tonnes or 0.2% on week, according to the latest survey results. When compared with the year-ago level, however, the portside stocks still represented an increase of 16.6%.

New iron ore arrivals at the 47 sampled ports declined last week, with the total volume during May 4-10 falling by 1.7 million tonnes or 6.6% on week to 24.1 million tonnes. However, port congestion was piling on, as 109 vessels were queuing at the ports for unloading by