SHANGHAI, Nov 16 (SMM) – Iron ore stocks across 35 major Chinese ports inched up 440,000 mt from a week ago to stand at 132.06 million mt as of Friday November 16, SMM data showed.
For the same week, average daily deliveries of iron ore leaving the 35 ports dipped 90,000 mt to 2.616 million mt amid steep declines across northern ports.
Heavy pollution hit northern cities this week. This raised the potential for extending winter production curbs in some regions and kept steelmakers cautious about purchases.
In addition, limited seaborne arrivals are likely to limit gains in iron ore port stocks in the short run.
