Iron ore stockpiles at China's 23 major ports stood at 71.99 million tons on Friday, Aug. 22, down 1.95 percent from Aug. 15, while Indian iron ore stockpiles decreased by 3.11percent to 20.25 million tons, according to figures released by Shanghai-based Mysteel.
Over the week, spot market prices of imported iron ore fell modestly due to ongoing price drops in downstream steel products, which are now below production cost levels. Transaction volume remained low as purchasers expected iron ore prices to dip further, choosing to adopt await-and-see approach instead.
The average delivery price of Indian ore grading 63.5 percent stayed between RMB 1,300 ($195.05) and RMB 1,320 ($197.96) per ton on Aug. 22, down by RMB 40 ($5.82) per ton from Aug. 15. Meanwhile, the average price of Indian ore grading 62 percent stood at between RMB 1,170($180.50) and RMB 1,200 ($184.86) per ton on Aug. 22.
Iron ore freight rates from Brazil's Tubarao Port to Beilun/Baoshan ports dropped by 4.91 percent from the previous Friday to $72.36 per tonon Aug. 22. At the same time, freight rates from Western Australia toBeilun/Baoshan ports decreased by 13.16 percent from Aug. 15 to $29.7 per ton on Aug. 22, according to the latest information from Mysteel.
The following table shows iron ore stockpile figures of China's 23 portson Aug. 22.
Port Iron ore stockpiles Remark Detainment
by Aug. 22 (mln
tons)
Qinhuangdao 1.30 Including 400,000 None
Port tons of Indian ore
Qingdao Port 9.00 Including 2 million Capesize: 2-3 days
tons of Indian ore,
3.4 million tons of
Brazilian ore, and
3.6 million tons of
Australian fine
Tianjin Port 6.90 Including 3 million None
tons of Indian ore
Jingtang Port 4.50 Including 4 million Panamax: 2-3 days
tons of Indian ore
Caofeidian Port 5.00 Including 500,000 Panamax: 2-3 days
tons of Indian ore,
1.7 million tons of
Brazilian ore, and
2.7 million tons of
Australian ore
Rizhao Port 7.10 Including 1.6 Capesize: 3-5 days
million tons of
Indian ore, 4.2
million tons of
Australian ore, and
1.3 million tons of
Brazilian ore
Lanshan Port 4.35 Including 3 million Panamax: 1-2 days
tons of Indian ore
Yantai Port 3.63 Including 1.73 None
million tons of
Australian ore and
1.9 million tons of
Brazilian ore
Dalian Port 1.60 Including 700,000 None
tons of Brazilian
ore and 700,000
tons of Australian
ore
Dandong Port 0.40 Including 150,000 None
tons of Indian ore
Lianyungang 4.30 Including 3 million Capesize: 3-4 days
Port tons of Indian ore
Yingkou Port 2.10 Including 300,000 None
tons of Indian ore,
900,000 tons of
Brazilian ore, and
900,000 tons of
Australian ore
Beilun Port 2.60 Including 1.3 None
million tons of
Australian ore and
1.3 million tons of
Brazilian ore
Nantong Port 2.00 Including 700,000 None
tons of Australian
ore, 700,000 tons
of Brazilian ore,
and 600,000 tons of
African ore
Zhenjiang Port 2.35 Including 500,000 None
tons of Indian ore,
900,000 tons of
Brazilian ore, and
950,000 tons of
Australian ore
Zhanjiang Port 3.75 Including 2 million None
tons of Australian
ore and 1.5 million
tons of Brazilian
ore
Xiamen Port 1.20 Including 500,000 None
tons of Indian ore
Jiangyin Port* 1.50 Including 500,000 None
tons of Indian ore
Longkou Port* 1.26 Including 500,000 None
tons of Indian ore
Bayuquan Port* 2.20 Including 300,000 N/A
tons of Indian ore,
900,000 tons of
Brazilian ore, and
1 million tons of
Australian ore
Fangchenggang 2.50 N/A
Port*
Mawan Port* 0.45 N/A
Shanghai Luojing 1.10 N/A
Port
Other ports 0.90 N/A
Total 71.99 Including 20.25 N/A
million tons of
Indian ore
Source: Mysteel
Note: Figures for ports marked with * were newly included by Mysteel on
July 18, 2008.
Sponsored by China Mining Association (CMA)
