As announced by China's National Bureau of Statistics, total iron ore inventory at thirty major ports in China amounted to 77.83 million tonne, declining by 2.83 million tonne WoW, the 6 consecutive WoW decrease and down 19.07 million tonne YoY.
Accordingly, the total iron ore inventory at the ports in question has declined below 80 million tonne for the first time since April 2011 and has fallen to its lowest level since January of the same year.
In the week ending December 7th, total inventory of iron ore from India at the 30 major Chinese ports in question declined to 3.35 million tonne and total iron ore inventory of Brazilian origin remained under 20 million tonne for the third week in a row.
As of December 7th, inventory of iron ore from Brazil, India and Australia at Chinese ports indicated respective decreases of 520,000 tonne, 350,000 tonne and 1,570,000 tonne, all week on week. The total iron ore inventory at Chinese ports from the three countries in question has fallen below 60 million tonne for the first time since January 2011, now accounting for a share of less than 75% of overall iron ore inventory at Chinese ports.