WEEKLY: China's iron ore port stocks continue growing

Inventories of imported iron ore at China's 47 major ports under Mysteel's tracking increased for the third straight week to reach 172.91 million tonnes as of June 11, up 955,300 tonnes or 0.6% from the previous week, according to the latest survey results. Meanwhile, the tonnage of current port-side stocks was also 19.2% higher than the year-ago level.

Iron ore outflows from these sampled ports continued to rise, as steel mills' active production still entailed large consumption of this critical steelmaking raw material. During June 4-10, daily iron ore deliveries from the 47 ports averaged 3.39 million tonnes/day, up 17,300 t/d or 0.5% on week. In comparison, new