The China Iron and Steel Association (CISA) has stated that on May 25 the aggregate iron ore inventory at 30 major Chinese ports totaled 95.85 million mt, down 820,000 mt week on week and dropping below 96 million mt for the first time this year.
Of the 30 ports, iron ore inventories decreased at 13 ports, increases were seen at only six ports, while inventory levels were stable at the remaining ports. In the week ending May 25, Tianjin Port registered the largest decrease in inventory, down 500,000 mt week on week, while the ports of Lanshan and Fangcheng indicated the biggest increases, respectively up 280,000 mt and 240,000 mt week on week.