WEEKLY: China's iron ore port stocks rise on strong arrivals

Inventories of imported iron ore at China's 47 major ports under Mysteel's tracking rose to 171.95 million tonnes as of June 4, up 786,700 tonnes or 0.5% from the previous week, according to the latest survey results. Compared with the same period last year, however, portside stocks were significantly higher, up 19.4%.

New iron ore arrivals at the 47 sampled ports rebounded by 1.39 million tonnes or 5.3% on week to 27.43 million tonnes during May 25-31. As a result, congestion at these ports worsened. As of June 4, 121 vessels were waiting to unload at the 47 ports, two more