Posted on 10 Jan 2022
Over December 31-January 6, total imported iron ore stocks at China's 45 ports under Mysteel's survey remained largely steady at 156.1 million tonnes, or having nudged down by 205,500 tonnes on week after a one-week rise, mainly due to higher daily discharge rates and more new arrivals at these ports.
Over the latest survey period, the average daily discharge rate from these 45 ports totaled 3.2 million tonnes/day, up from one week of dip by 235,890 t/d or 8% on week.
Over December 27-January 2, iron ore new arrivals at the 45 surveyed ports increased to around 25 million tonnes, or having reversed from the prior week's fall by 4 million tonnes or 19.1% on week.
Among total stocks, the Australian iron ore volume at these 45 ports climbed to 72.3 million tonnes after the second on-week gain by 577,100 tonnes, while Brazilian ore dropped to 55.4 million tonnes - a low since November 26, down by 446,600 tonnes on week after a one-week rise.
By products, both lumps and concentrates decreased during the survey period, with the former hitting the lowest level since October 15, falling for the fifth week by 352,800 tonnes or 1.5% on week to 22.4 million tonnes, and the latter down by 640,200 tonnes or 5.6% on week after one week of rise to 10.9 million tonnes. On the contrary, pellets reached a high since August 27, up by 68,600 tonnes or 1.7% from a one-week dip.
Of all the stocks, about 91.9 million tonnes were owned by traders as of January 6, retreating by 575,000 tonnes on week after the prior week's increase, and the proportion had declined for the fourth week by another 0.3 percentage point on week to 58.9%.
Source:Mysteel Global
