WEEKLY: China's iron ore port stocks climb further

Inventories of imported iron ore stockpiled at China's 47 major ports under Mysteel's monitoring rose for the second straight week to 172.17 million tonnes by September 24, up 805,700 tonnes or 0.5% on week, according to the latest survey results. The total was also 18.3% higher compared with the year-ago level.

Iron ore arrivals at Chinese ports dropped slightly during the sample week, with the volume of ore cargoes arriving at the 47 ports during September 14-20 falling 300,000 tonnes or 1% from the previous week to 28.68 million tonnes. Nonetheless, the faster pace of unloading helped to further ease congestion