According to China's National Bureau of Statistics, as of November 30th, total iron ore inventory at 30 major Chinese ports amounted to 80.66 million tonne down 1.97 million tonne WoW, constituting the 15 consecutive WoW decline. The total iron ore inventory was also 16.58 million tonne lower compared to the same time last year.
Specifically, as of November 30th iron ore inventory at 14 of the 30 major ports witnessed a decrease, while iror ore inventory at 7 ports remained unchanged and 9 ports saw an increase, all on WoW basis, Iron ore inventory at the port of Tianjin decreased by 790,000 million tonne, registering the largest WoW decline, while iron ore inventory at the ports of Caofeidian and Jingtang decreased by 550,000 million tonne and 210,00C million tonne respectively, both WoW.
However, iron ore inventory at the ports of Bayuquan, Nantong and Fangcheng all witnessed WoW increases of 250,000 million tonne.
In the week ending November 30th, total inventory of iron ore from India at the 30 major Chinese ports in question declined below 4 million tonne and total iron ore inventory of Brazilian origin was just under 20 million tonne.
Meanwhile, as of the given date inventory of iron ore from Brazil, India and Australia at the ports in question indicated respective decreases of 110,000 million tonne, 350,000 million tonne and 1,370,000 million tonne, all WoW.
