WEEKLY: China iron ore port stocks dip to 125 mln t

Total imported iron ore stocks at China’s 45 ports under Mysteel’s weekly survey eased for the third week to a three-month low of 125.3 million tonnes by May 13, or down another 4.2 million tonnes or 3.3% on week, as daily discharge volume grew faster than the increase in the new ore arrivals at these ports.

Among the total port stocks, the Australian iron ore stocks at China’s 45 ports thinned for the fourth week by 1.2 million tonnes or 1.9% on week to 65 million tonnes, and the Brazilian ore continued to fall for the seventh week by another 1.4 million tonnes or 3.5%