Iron ore arrivals at Chinese ports rose 1.93 million mt on week
SMM estimates that there were 67 vessels carrying 11.61 million mt of iron ore arrived at major Chinese ports during March 1-7, up 1.93 million mt from the week ended February 29 and up 790,000 mt from the same period a year earlier.
During the same period, iron ore deliveries leaving Australian ports recovered 3.32 million mt on the week to 17.13 million mt, but the proportion of shipments to China edged lower from the previous week.
Shipments that departed Brazilian ports were estimated to fall 2.73 million mt on the week, to 2.95 million mt. This stood 4.7 million mt, or more than 60%, lower than the same period last year, as the recent torrential rainfalls in Brazil deterred shipments.
SMM expects greater arrivals of iron ore at Chinese ports to slightly ease the domestic supply tightness.
Source: SMM News