China's economic planner National Development and Reform Commission (NDRC) just issued a circular to ease port congestion via reducing iron ore  hoarding, according to Xiong Bilin, an official with NDRC.

   The order requires iron and steel enterprises and traders to clean iron ore stockpiles at ports within designated period with fee rates for port storage to be heightened.

   This order will be in execution soon after joint countersigning of the Ministry of   Transport, the Ministry of Railways and the Ministry of Commerce.

   The iron ore stockpiles at China's ports surpassed 70 million tons in the first four months this year in comparison with usual 40 million tons, said Xiong.

   "Iron ore traders hoard a large amount of iron ore for speculative purposes anticipating additional over 65 percent increase of iron ore prices", said Xiong, expecting iron ore stockpiles to be removed in one month due to brisk demand.

   In a circular just issued, China Iron and Steel Association (CISA) called on its member enterprises to improve import order and maintain stockpiles to meet the 45-day processing capacity.

   China imported 153.49 million tons of iron ore from January to April, up 20.19 million tons or 15.15 percent year-on-year, according to CISA.