According to the statistics released by China's National Bureau of Statistics, as of July 20 overall iron ore inventory at 30 major Chinese ports totaled 98.52 million mt, up 600,000 mt compared with the previous week and indicating an increase of 3.87 million mt year on year.
Specifically, 10 of the 30 major ports witnessed an increase in iron ore inventory, eight ports saw a decline, while inventory at the other ports remained unchanged, all week on week. Iron ore inventory at two major ports in northern China indicated an obvious increase, with inventory at the ports of Caofeidian and Tianjin increasing by 440,000 mt and 170,000 mt respectively. Meanwhile, iron ore inventory at the port of Jingtang was unchanged week on week, while the port of Fangcheng in southern China saw an increase of 210,000 mt. As regards eastern China, iron ore inventory at the port of Zhizhao decreased by 100,000 mt, while inventories at Lianyun and Dalian both declined by 150,000 mt, all week on week.
In the week ending July 20, iron ore inventory at the 30 major ports supplied by the three main source countries - Australia, India and Brazil - increased by 570,000 mt overall week on week, rising by 260,000 mt, 40,000 mt and 270,000 mt respectively.