RIZHAO Port Co, China's biggest iron ore port, said it will raise handling charges by 11 percent for the steel making mineral, as stockpiles remain high.

    From September 1, the handling fee will be raised to 30.50 yuan (US$4.46) a ton from 27.50 yuan, for imported iron ore at its port, the Shandong Province-based company told the Shanghai Stock Exchange yesterday.

    China's iron ore imports rose 22 percent in the first seven months to 269.6 million tons, according to customs figures.

    Iron ore inventories at main Chinese ports recorded 74.46 million tons yesterday, 2.47 million tons more than a week earlier, according to industry portal Mysteel.com's weekly report, despite a state order to clear excess stockpiles.

    In May, the China Iron and Steel Association asked mills and traders to control ore imports after stocks at domestic ports reached a record high of nearly 80 million tons, which was up more than 50 percent from the start of the year and causing congestion and economic losses.

    Mills and traders rushed to import because of expectations of higher ore prices. The situation creates a false impression that the nation's ore demand is surging, the steel industry group has said.

    The charge rise will boost sales and profitability, Rizhao Port said without elaborating.

    Its shares dipped 0.18 percent to 11.08 yuan yesterday.