Iron ore stockpiles at China's 23 major ports reached 74.46 million tons on Friday, Aug. 29, up 3.43 percent from Aug. 22, while Indian iron ore stockpiles increased by 2.02 percent to 20.66 million tons, according to figures released by Shanghai-based Mysteel.
Over the week, spot market prices for imported iron ore continued to fall and transaction volume remained low, due to depressed down streamsteel product prices and sliding demand from small and medium-sizedsteel mills. In addition, a handful of traders struggling with tight finances were forced to dump their iron ore stock at lower prices, though it only accounted for a small proportion of the total transaction volume.
The average delivery price of Indian ore grading 63.5 percent stayed between RMB 1,260 ($184.43) and RMB 1,280 ($187.35) per ton on Aug. 29, down by RMB 40 ($5.85) per ton from Aug. 22. Meanwhile, the averageprice of Indian ore grading 62 percent stood between RMB 1,140 ($166.86) and RMB 1,200 ($175.64) per ton on Aug. 29, also down by RMB 40 ($5.85) from Aug. 22.
Iron ore freight rates from Brazil's Tubarao Port to Beilun/Baoshan ports dropped 3.05 percent from the previous Friday to $70.15 per ton on Aug. 29. At the same time, freight rates from Western Australia to Beilun/Baoshan ports decreased by 8.79 percent from Aug. 22 to $27.09 per ton on Aug. 29, according to the latest information from Mysteel.
The following table shows stockpile figures in China's 23 ports on Aug.29.
Iron ore stockpiles of China's 23 ports, Aug. 29, 2008
Port Iron ore stockpiles Remark Detainment
by Aug. 29 (mln
tons)
Qinhuangdao Port 1.30 Including 400,000 None
tons of Indian ore
Qingdao Port 9.70 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 7.00 Including 3 million None
tons of Indian ore
Jingtang Port 4.80 Including 4 million Panamax: 2-3 days
tons of Indian ore
Caofeidian Port 5.00 Including 600,000 Panamax: 3 days
tons of Indian ore,
1.7 million tons of
Brazilian ore, and
2.7 million tons of
Australian ore
Rizhao Port 7.50 Including 1.6 Capesize: 3-5 days
million tons of
Indian ore, 4.2
million tons of
Australian ore, and
1.7 million tons of
Brazilian ore
Lanshan Port 4.26 Including 2.91 Panamax: 1-2 days
million tons of
Indian ore
Yantai Port 3.66 Including 1.76 None
million tons of
Australian ore and
1.9 million tons of
Brazilian ore
Dalian Port 1.68 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 Port 4.30 Including 3 million Capesize: 3-4 days
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 2.70 Including 1.4 None
million tons of
Australian ore and
1.3 million tons of
Brazilian ore
Nantong Port 2.20 Including 1.1 None
million tons of
Australian ore and
1.1 million tons of
Brazilian ore
Zhenjiang Port 2.40 Including 900,000 None
tons of Indian ore,
800,000 tons of
Brazilian ore, and
700,000 tons of
Australian ore
Zhanjiang Port 3.80 Including 2 million None
tons of Australian
ore and 1.8 million
tons of Brazilian
ore
Xiamen Port 1.25 Including 500,000 None
tons of Indian ore
Jiangyin Port* 1.50 Including 500,000 None
tons of Indian ore
Longkou Port* 1.22 Including 500,000 None
tons of Indian ore
Bayuquan Port* 2.24 Including 300,000 N/A
tons of Indian ore,
900,000 tons of
Brazilian ore, and
1 million tons of
Australian ore
Fangchenggang 2.90 N/A
Port*
Mawan Port* 0.55 N/A
Shanghai Luojing 1.10 N/A
Port
Other ports 0.90 N/A
Total 74.46 Including 20.66 N/A
million tons of
Indian ore
Source: Mysteel
Note: Figures for ports marked with * were newly included by Mysteel on July 18, 2008.
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