Iron Ore Arrivals at Chinese Ports Decreased Slightly, Shipments from Australia And Brazil Declined Sharply

SMM data showed that a total of 67 ships arrived at major ports in China from March 7 to March 13, carrying 10.29 million mt of iron ore, up 980,000 mt on a weekly basis, but down 2.08 million mt from a year ago. In the same period, shipments from Australia were 16.11 million mt, up 540,000 mt week-on-week, but down 460,000 mt YoY; shipments from Brazil were 3.86 million mt, a drop of 2 million mt week-on-week and 2.28 million mt YoY.

As the Paralympics has ended, many blast furnaces in north China have come back to production over the past two days, boosting the demand for iron ore and offering certain support to iron ore prices. However, considering the influence of geopolitical factor, iron ore prices will continue to fluctuate wildly in the short term.
Source: SMM Information & Technology Co, Ltd