Iron ore stockpiles at major Chinese ports fall to 68.65 mln tons by July 17
Xiamen. July 17. INTERFAX-CHINA - Iron ore stockpiles at China's 22 major ports dropped by 0.97 percent from July 10 to 68.65 million tons on July 17, of which there were 14.43 million tons of Indian iron ore stockpiles, down 1.84 percent, according to figures released by Shanghai-based Mysteel Information.
Spot iron ore prices at ports increased during the week on the back of higher steel product prices. Many small and medium-sized steel mills that primarily feed on imported iron ore kept up purchases on the market regardless of rising spot prices as they could still turn a profit.
The average delivery price for Indian iron ore grading 63 percent stood between RMB 670 ($98.08) and RMB 680 ($99.55) per ton on July 17 at ports in Shandong Province, up RMB 30 ($4.39) from July 10. The price of Brazilian fine grading 65 percent stayed between RMB 710 ($103.94) and RMB 730 ($106.87) per ton on July 17 at these ports, up RMB 35 ($5.12) from July 10.
Iron ore freight rates from Brazil's Tubarao Port to Beilun and Baoshan ports increased by 24.26 percent from July 9 to $40.46 per ton on July 16, while freight rates from Western Australia to Beilun and Baoshan ports were $15.34 per ton on July 17, up 11.89 percent from July 9, according to the latest information from Mysteel.
The table below shows stockpile figures at China's 22 ports on July 17.
Iron ore stockpiles at China's 22 ports, July 17, 2009
|Port||Iron ore stockpiles by Jul 17 (mln tons)||Australian ore (mln tons)||Brazilian ore (mln tons)||Indian ore (mln tons)||Detainment|
|Qingdao Port||9.7||4.1||3.8||0.9||10 days|
|Tianjin Port||5.35||2.6||0.85||1.5||12 days|
|Caofeidian Port||5.7||3.2||1.6||0.8||15 days|
|Rizhao Port||9.8||4.6||3.4||1.1||15 days|
|Dalian Port||3.28||1.54||1.54||N/A||2 - 3 days|
|Lianyungang Port||5.5||1.1||1.2||2.8||5 days|
|Beilun Port||2.8||1.2||1.3||N/A||3 - 4 days|
|Shanghai Luojing Port||0.8||N/A||N/A||N/A||N/A|