China: Iron ore stock at port rise by 1%; shipments from India likely to reduce in coming weeks

Saturday, June 11,

Stockpiles of imported iron ore at major Chinese ports rose by almost 1% this week to reach 93.43 million tonnes.

Indian inventories rose by 3.8% this week, while shipments from Australia and Brazil also inched up slightly.

According to preliminary customs data released on Friday, imports of iron ore moved up by 0.8 percent in May. But traders expect shipments to show a decline in June especially from India with monsoons affecting the transportation ore from Goa and delay in issuing of transport permits by the Karnataka Government.