China's iron ore stockpiles rise to 70.82 mln tons by June 12
Shanghai. June 12. INTERFAX-CHINA - Iron ore stockpiles at China's 22 major ports increased by 0.07 percent from June 5 to 70.82 million tons on June 12, of which there were 16.88 million tons of Indian iron ore stockpiles, down 2.31 percent, according to figures released by Shanghai-based Mysteel Information.
Iron ore trading volume remained at a low level over the past week because current prices are quite high. In addition, as Chinese steel mills have high iron ore stockpiles, most are adopting a wait-and-see approach towards purchases.
The average delivery price for Indian iron ore grading 63 percent stood at RMB 580 ($84.89) per ton on June 12, up RMB 10 ($1.46) from June 5. The price of Indian iron ore grading 62 percent stayed between RMB 530 ($77.57) and RMB 540 ($79.05) per ton on June 12, down 10 RMB ($1.46) from June 5.
Iron ore freight rates from Brazil's Tubarao Port to Beilun and Baoshan ports fell by 12.61 percent from June 4 to $38.13 per ton on June 11, while freight rates from Western Australia to Beilun and Baoshan ports stood at $16.48 per ton on June 11, down 14.92 percent from June 4, according to the latest information from Mysteel.
The table below shows stockpile figures at China's 22 ports on June 12.
Iron ore stockpiles at China's 22 ports, June 12, 2009
|Port||Iron ore stockpiles by Jun 12 (mln tons)||Australian ore (mln tons)||Brazilian ore (mln tons)||Indian ore (mln tons)||Detainment|
|Qingdao Port||9.4||4||3.7||0.9||10 days|
|Tianjin Port||5.3||2.5||0.85||1.5||15 - 16 days|
|Caofeidian Port||6.4||3.6||2||0.8||8 days|
|Rizhao Port||9.6||4.4||3.4||1.3||10 days|
|Lanshan Port||2.06||0.45||0.2||1||1 - 2 days|
|Beilun Port||3||1.25||1.4||0.2||7 days|
|Zhanjiang Port||3.15||1.3||0.8||0.15||4 days|
|Shanghai Luojing Port||0.8||N/A||N/A||N/A||N/A|