WEEKLY: China's iron ore port stocks fall to 2-year low

After decreasing steadily for four weeks, total imported iron ore stocks at 45 Chinese major ports under Mysteel's survey touched a two-year low of about 125 million tonnes by July 13. The further on-week drop of another 1.4 million tonnes or 1.1% in ore stocks was mainly driven by the increment in discharge volumes at these ports.

During July 7-13, total iron ore discharged from the sampled ports increased for the fourth straight week to average 3.2 million tonnes/day, though the rise slowed to a smaller 23,800 t/d or 0.8% on week as compared with those recorded during the previous survey periods, Mysteel's tracking showed. On the