Total iron ore stocks in major ports fell for five consecutive weeks

As of November 30, 2012, the total iron ore inventory at the country's 30 major ports stood at 80.66 million tons, marking a decrease of 1.97 million tons compared to the previous week. This marks the fifth consecutive week of inventory decline. Year-over-year, the total inventory has dropped by 16.58 million tons, representing a significant new low. Breaking it down by specific ports, last week saw more ports experiencing inventory declines than increases. Among those with falling inventories, the eastern and northern regions stood out, with Tianjin Port reporting the largest drop of 790,000 tons. Caofeidian Port and Jingtang Port also reported decreases of 550,000 tons and 210,000 tons, respectively. Rizhao Port and Qingdao Port followed closely behind, with drops of 200,000 tons and 300,000 tons each. Beilun Port also witnessed a substantial reduction of 400,000 tons. On the flip side, ports like Bayuquan Port, Nantong Port, and Fangcheng Port managed to increase their inventories by approximately 250,000 tons, while others showed only minor gains. In terms of supply, the inventories of the top three importing countries—Australia, India, and Brazil—all continued to decline last week. Australian ores saw the most significant drop, decreasing by 1.37 million tons from the prior week. Indian ores fell by 350,000 tons, bringing their total inventory below 4 million tons—a new low. Brazilian ores also remained under 20 million tons for the second consecutive week. Collectively, these three major sources now account for a smaller percentage of overall inventory, reaching a new historical low. This ongoing trend suggests that demand for iron ore might be softening, particularly in key industrial areas. The continued decline in both domestic and imported supplies could impact steel production in the coming months, potentially signaling shifts in market dynamics. Meanwhile, the geographic distribution of these changes indicates regional disparities in supply and demand, which could lead to localized price fluctuations depending on logistical constraints and market conditions.

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