WEEKLY: China's iron ore port stockpiles build higher

Inventories of imported iron ore piled at China's 47 major ports under Mysteel's tracking accumulated further by 2.4 million tonnes or 1.4% on week to 175.3 million tonnes as of November 5, the highest level since late June, Mysteel's latest survey showed.

The more pronounced rise in port-side stocks was primarily driven by a sharp rebound in iron ore inflows. The volume of iron ore cargoes arriving at the 47 sampled ports during October 26-November 1 surged by 6.5 million tonnes or 27.7% on week to total 30.1 million tonnes, reversing