Iron ore stockpiles at major Chinese ports declines a bit

June 4, 2008

June 4th (Steel Guru) – It is reported that till the close of last week of May 30th 2008, iron ore stockpiles at China’s 23 major ports decline to 62.41 million tonnes, out of which Indian spot ore reduced to 18.25 million tonnes. Rizhao, Dalian, Qingdao and Caofeidian have recorded ore inventory reduction at 200,000 tonnes, while Lanshan and Lianyun have seen rising ore stock.

Port Stockpiles by Origin Total
Qinhuangdao India (0.4) 1.3
Qingdao India (2.05), Brazil (3.5), Australia (4) 9.5
Tianjin India (3) 6.3
Jingtang India (3) 5.1
Caofeidian India (0.8), Brazil (2) Australia (1.8) 4.6
Rizhao India (2.2), Australia (3.5), Brazil (2.4) 8.0
Lanshan India (3.3) 4.8
Yantai Australia (0.8), Brazil (0.9) 2.0
Dalian Brazil (0.8), Australia (0.68) 1.4
Dandong Indian pellet (0.04) 0.3
Lianyungang India (2.5) 4.9
Yingkou India (0.5), Australia (0.9), Brazil (0.7) 2.0
Beilun Port Australia (1.5) , Brazil (1.2) 3.0
Nantong Port Australia (0.6), Brazil (0.4), Africa (0.5) 1.4
Zhenjiagang India (0.6), Brazil (0.8), Australia (0.7) 2.1
Zhanjiang Brazil (1.5), Australia (1.2) 3.7
Shanghai   1.0
Other ports   0.9
Total Stockpiles   62.4
*Indian ore   18.25
     

(Stocks in million tonne)

The ports are to implement the new warehousing charge from June however it remains to see how that would help move down the heavy ore stock.

The offer price has kept flat this week amid sluggish market transactions. The exporters have lowered quotation price slightly on back of sliding freight rates. However, the iron ore traders have shown little interest in weakening offer quoted by exporters due to tight liquidity.

The new arrivals of ore imports have been quite few during the week. Currently, the off take price for benchmark Fe 63.5% Indian ore fine goes at CNY 1430 to CNY 1450 per tonne FOB, while spot prices for grades of Fe 58% and Fe 62.5% goes at CNY 1030 to CNY 1040 per tonne FOB and CNY 1360 to CNY 1380 per tonne FOB respectively.

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