WEEKLY: China's iron ore port stocks edge down further

Inventories of imported iron ore stockpiled at China's 47 major ports tracked by Mysteel fell for the second straight week to 173.61 million tonnes by August 20, though the on-week drop was small at 609,000 tonnes or 0.3%. Meanwhile, compared with the year-ago level, the stocks remained 20.2% higher.

As port operations recovered last week after the Typhoon Dolphin disruption, iron ore arrivals posted a significant rebound. During August 10-16, about 28.56 million tonnes of iron ore arrived at the 47 surveyed ports, surging by 9.65 million tonnes or 51% on week. Consequently, 126 vessels were waiting to