WEEKLY: China's iron ore port stocks near 3-year low

Imported iron ore inventories at the 45 Chinese ports under Mysteel's tracking decreased to 118.7 million tonnes on September 7, touching the lowest level since September 25 2020. The notable on-week fall of 2.6 million tonnes or 2.1% was mainly driven by the slump in new ore arrivals plus higher daily discharge volumes at these ports.

During August 28-September 3, the same 45 ports received 19.8 million tonnes of iron ore cargoes, with the volume dropping sharply by 5.1 million tonnes or 20.4% from the prior survey period, according to Mysteel's shipment tracking. Ore carrier arrivals at the ports in South China have been disrupted