As of January 11, total iron ore inventory at 30 major Chinese ports amounted to 74.5 million mt, down 240,000 mt week on week, according to China’s National Bureau of Statistics. Meanwhile, the total iron ore inventory on the given date was 22.88 million mt lower compared to the same time last year.
As of January 11, at Chinese ports inventories of iron ore from Australia and Brazil increased by 350,000 mt and 40,000 mt respectively, while inventory of Indian origin iron ore decreased by 490,000 mt, all on week-on-week basis.