Stockpiles of iron ore at 25 major ports in China rose slightly last week, up almost 1% to 74 million tonnes from the previous week ahead of holidays in China.

Chinese markets will close on September 19th and 20th 2013 for the mid Autumn festival and October 1st to 7th 2013 for National Day holidays. The price for 62% iron ore was unchanged at USD 135 per tonne. The index for iron ore imports with a 58% Fe grade reached USD 125.

For Australian producers, like Rio Tinto with earnings around 80% of its profits from iron ore, BHP Billiton 100% of profits, when translated to an Australian dollar price of AUD 142 per tonne it is a great time to be shipping ore.