Lower imports shrink iron ore port stocks

SHANGHAI, Aug 10 (SMM) – Iron ore stocks across 35 Chinese ports shrank 590,000 mt on a weekly basis, to 140.16 million mt as of Friday August 10. Limited arrivals from overseas accounted for the decline. 

Daily average deliveries from these ports also fell by 31,000 mt week on week to 2.5 million mt, SMM data showed.

Deliveries extended their increase from major ports in Shandong province, including Qingdao and Rizhao ports. This grew in-plant inventories across steel mills around the province. At Caofeidian port in Tangshan, daily average deliveries also rose by some 40,000 mt on the week. 

Daily delivery from Jingtang port in Tangshan went flat over the week as environmental probes restricted road transport.