SHANGHAI, Sep 28 (SMM) – Iron ore stocks across 35 Chinese ports decreased 1.98 million mt over the week ended September 28 to 134.33 million mt, SMM data showed.
Meanwhile, daily average deliveries departing those ports grew 86,000 mt to 2.666 million mt as steelmakers stockpiled before the week-long National Day holiday.
Fewer arrivals weighed on iron ore stocks at Jingtang port in Tangshan, which shrank 1.2 million mt on the week. At Caofeidian port, another major port in Tangshan, more arrivals grew inventories by nearly 1 million mt from a week ago, despite an increase of 30,000 mt in daily average deliveries leaving the port.
Stocks at Qingdao port fell sharply on the week as limited cargoes arrived and daily average deliveries departing the port increased some 40,000 mt.
