China"s major sea ports hold 30-34m tonnes of iron ore
Iron ore stockpiles at China"s major sea ports are estimated to total in the range of 30-34m tonnes, similar to levels in Steel Business Briefing"s last ports" survey in mid-July.
But with China"s iron ore spot market having become more active since late July – with landed prices for 63% Fe Indian materials moving up to $72-74/t cfr — inventories are expected to rise further in the next month or two, say traders.
Average waiting times – if applicable – are believed to be down to one or two days at the worst. Even at Qingdao Port in eastern China"s Shandong Province – China"s largest and busiest iron ore port – waiting times have fallen to less than two days, SBB learns.
According to estimates compiled by SBB, Qingdao Port still holds the highest iron ore stock level, of around 5.5m tonnes, compared to a storage capacity of 10m tonnes.
Interestingly, the port already appears to be losing market share to Rizhao — also in Shandong province — which is now holding around 3.5m tonnes. Rizhao recently expanded its capacity by 4m t/y, as SBB reported. It plans to have total storage of 10m t/y by year-end.
Meanwhile Tianjin Port (Tianjin Municipality) now holds around 2.5m tonnes; Yantai Port (Shandong Province) holds around 2m tonnes; and Lianyungang Port (Jiangsu Province) also holds around 2m tonnes.
But with China"s iron ore spot market having become more active since late July – with landed prices for 63% Fe Indian materials moving up to $72-74/t cfr — inventories are expected to rise further in the next month or two, say traders.
Average waiting times – if applicable – are believed to be down to one or two days at the worst. Even at Qingdao Port in eastern China"s Shandong Province – China"s largest and busiest iron ore port – waiting times have fallen to less than two days, SBB learns.
According to estimates compiled by SBB, Qingdao Port still holds the highest iron ore stock level, of around 5.5m tonnes, compared to a storage capacity of 10m tonnes.
Interestingly, the port already appears to be losing market share to Rizhao — also in Shandong province — which is now holding around 3.5m tonnes. Rizhao recently expanded its capacity by 4m t/y, as SBB reported. It plans to have total storage of 10m t/y by year-end.
Meanwhile Tianjin Port (Tianjin Municipality) now holds around 2.5m tonnes; Yantai Port (Shandong Province) holds around 2m tonnes; and Lianyungang Port (Jiangsu Province) also holds around 2m tonnes.