WEEKLY: China's iron ore port stocks rise for 5th week

Inventories of imported iron ore at China's 47 major ports under Mysteel's tracking increased further to reach 175.44 million tonnes as of June 25, up 2.33 million tonnes or 1.3% on week and marking the fifth consecutive week of rises, according to the latest survey results. Compared with the level a year ago, the current port-side stocks were also higher by 21.2%.

New iron ore arrivals at the 47 sampled ports declined over the past week of June 15-21, with the volume falling 866,000 tonnes or 3.1% on week to 27.33 million tonnes. However, congestion at these ports eased as more cargoes were diverted from vessel backlogs into port stocks. On