WEEKLY: China's iron ore port stocks edge up slightly

Inventories of imported iron ore stockpiled at China's 47 major ports tracked by Mysteel increased by 486,900 tonnes or 0.3% on week to 171.13 million tonnes by July 23, ending a three-week decline. Meanwhile, the stocks remained 18.9% higher than the year-prior level.

The latest rebound in China's portside stocks was mainly attributed to a large shipment that arrived at the surveyed ports last week, with the volume growing 5.11 million tonnes or 21.5% on week to reach 28.89 million tonnes during July 13-19. Port congestion also worsened further in the past week.