Iron ore stockpiles fall slightly at China's ports
Shanghai. March 4. INTERFAX-CHINA - Iron ore stockpiles at China's 22 major ports fell 0.32 percent from Feb. 25 to 80.79 million tons on March 4, including 13.58 million tons of Indian iron ore stockpiles which rose 0.74 percent, according to March 4 figures from Shanghai-based Mysteel Information.
Imported iron ore prices continued to fall this week. The quoted price for Indian Iron ore grading 63 and 63.5 percent from Indian iron ore miners currently stands at around $184 per ton, down $7.00 from last week's prices.
The Indian government raised the export tax for Indian iron ore fines and lumps to a uniform 20 percent on March 1, pushing up production costs for the country's iron ore miners. As a result, most Indian iron ore miners stopped offering prices.
Iron ore prices are expected to remain stable next week, however, as China's stockpiles shrink and small to medium-sized steel mills begin purchasing again, according to Mysteel.
The quoted price for Indian iron ore grading 63.5 percent from China's major ports stood between RMB 1,330 ($202.52) and RMB 1,360 ($207.09) on March 4.
Iron ore freight rates from Brazil's Tubarao port to Qingdao port rose 2.81 percent from Feb. 25 to $18.69 per ton on March 4. Freight rates from western Australia to Qingdao stood at $6.77 on March 4, up 3.19 percent from Feb.25, according to the March 4 Mysteel figures.
The table below shows stockpile figures at China's 22 ports on March 4.
Iron ore stockpiles at China's 22 ports, March 4
| Port | Iron ore stockpiles, March 4 (mln tons) | Australian ore (mln tons) | Brazilian ore (mln tons) | Indian ore (mln tons) | Detainment |
| Qinhuangdao port | 1.8 | 0.5 | 0.55 | 0.15 | None |
| Qingdao port | 9.8 | 3.7 | 3.8 | 1.1 | 10-12 days |
| Tianjin port | 4.9 | 2.7 | 1 | 0.8 | None |
| Jingtang port | 4.1 | 0.4 | 0.25 | 2.7 | None |
| Caofeidian port | 9.1 | 4.2 | 2.7 | 0.75 | 2-3 days |
| Rizhao port | 11.2 | 5.3 | 3.6 | 1.2 | 3-4 days |
| Lanshan port | 4 | 0.2 | N/A | 2.9 | None |
| Yantai port | 2.5 | 1.5 | 0.4 | 0.2 | None |
| Dalian port | 3.95 | 1.24 | 2.15 | N/A | None |
| Dandong port | 0.35 | N/A | 0.05 | 0.3 | None |
| Lianyungang port | 6.96 | 1.6 | 1.4 | 1.95 | None |
| Beilun port | 2.85 | 1.3 | 1.25 | N/A | None |
| Nantong port | 2.32 | 1.4 | 0.45 | N/A | None |
| Zhenjiang port | 2.95 | 0.4 | 0.65 | 0.3 | None |
| Zhanjiang port | 2.06 | 1.1 | 1 | 0.15 | None |
| Xiamen port | 0.76 | 0.21 | 0.02 | 0.18 | None |
| Jiangyin port | 1 | 0.05 | 0.05 | 0.6 | None |
| Longkou port | 0.54 | 0.2 | 0.05 | 0.15 | None |
| Bayuquan port | 3.2 | 1.7 | 1.5 | N/A | None |
| Fangchenggang port | 3.5 | 1.4 | 1.1 | 0.15 | None |
| Mawan port | 0.45 | N/A | N/A | N/A | N/A |
| Shanghai Luojing port | 0.8 | N/A | N/A | N/A | N/A |
| Other ports | 1.7 | N/A | N/A | N/A | N/A |
| Total | 80.79 | 29.1 | 21.97 | 13.58 | N/A |
Source: Mysteel
-XH
