WEEKLY: China iron ore port stocks rise for third week
Jul 10, 2020 13:50
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Inventories of imported iron ore at China’s 45 major ports as of July 9 had grown for a third week to around 108.8 million tonnes, though the volume only increased by 693,300 tonnes or 0.6% on week, according to Mysteel’s latest weekly survey. The uptick was largely due to the increase in new arrivals at many ports, rather than any falloff in demand, sources said.
Over June 29-July 5, those 45 ports received around 24.1 million tonnes of new iron ore shipments, reversing up by a large 1.67 million tonnes or 7.4% on week. Mysteel’s other weekly survey showed.
However, among the inventory total, stocks of Australian iron ore reversed down by 1.58 Million tonnes or