WEEKLY: China's iron ore port stocks reverse down

Inventories of imported iron ore stockpiled at China's 47 major ports under Mysteel's tracking fell by 826,300 tonnes or 0.5% on week to 174.61 million tonnes as of July 2, ending a five-week rise, the latest survey showed. Even so, portside stocks remained 20.5% higher than a year earlier.

New iron ore arrivals at the 47 sampled ports rose in the June 22-28 week, increasing by 1.46 million tonnes or 5.4% on week to 28.79 million tonnes. However, the new inflows have yet to translate into higher port stocks because congestion at ports has worsened. By July 2,