WEEKLY: China's iron ore port stocks rise for 3 weeks

Inventories of imported iron ore stockpiled at China's 47 major ports tracked by Mysteel rose for the third straight week to reach 175 million tonnes as of August 6, up 1 million tonnes or 0.6% from a week earlier. The volume was significantly higher by 22.7% compared with the same period last year.

During July 27-August 2, about 32 million tonnes of iron ore cargoes arrived at the 47 surveyed ports, jumping by 5.33 million tonnes or 20% from the previous week. This led the number of vessels waiting to be unloaded at these ports to increase from 121 to 126 on week