Reuters quoted according to data from industry consultancy Mysteel, stockpiles of imported iron ore at major Chinese ports rose by almost 1% this week to a new high of 93.43 million tonnes.
Indian inventories rose 3.8% this week, while shipments from Australia and Brazil also inched up slightly.
Imports from the three countries made up 78% of the total.
According to preliminary customs data released on Friday, imports of iron ore stood at 53.3 million tonnes in May up by 0.8% on the month, but traders expect shipments to show a decline in June.
Following is a table showing iron ore port stock movements in the last seven days.
( Source: www.steelguru.com )