WEEKLY: China's iron ore port stocks rise further over holiday

Inventories of imported iron ore stockpiled at China's 47 major ports under Mysteel's tracking increased for the fourth straight week during the country's National Day holiday over October 1-7, with the tonnage edging up by 0.6% from September 30 to reach 173.2 million tonnes by October 8. The total also remained 15.7% higher than the year-ago level.

The stockpiles at ports expanded despite a sharp drop in iron ore arrivals last week. The volume of ore cargoes arriving at the same 47 ports during September 28-October 4 declined by a large 17.3% on week to 24.7 million tonnes, Mysteel's survey showed. Meanwhile, daily average outflows of imported