WEEKLY: China's iron ore port stocks edge down further

Inventories of imported iron ore stockpiled at China's major 47 ports under Mysteel's regular tracking fell to 171.15 million tonnes as of May 21, down for the second straight week but with a small on-week drop of 0.4% or 745,100 tonnes, according to the latest survey results. However, the portside stocks were still 17.3% higher on year.

The 47 sampled ports saw a significant increase in new iron ore arrivals during the week ended on May 17, with the total volume jumping by 4.2 million tonnes or 17.4% on week to 28.3 million tonnes. However, most of these new cargoes have yet to be added to