Inventories of imported iron ore at Chinese ports hit 82.96 million tonnes on May 13th 2011 up 0.7% on the week and just short of the 83.11 million tonne record of April 22.
Data from industry consultancy Mysteel showed that slight declines in ores originating in India and Brazil were offset by an increase in deliveries from Australia.
Mysteel said the market for imported ore remained weak this week, with transactions and enquiries both relatively low. However, prices have remained largely stable because of a decline in shipments from India, which is heading into its monsoon season.
( Source: www.steelguru.com )