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MMi Daily Iron Ore Index Report April 04 2019

Port stocks of iron ore are unlikely to growth further this week as the tropical cyclone affects shipments from Australia, and as steel mills stockpile for production restarts. As of April 4, iron ore stocks across 35 Chinese ports grew 1.54 million mt from a week ago to 137.3 million mt as arrivals across major ports in the east, north and south inched up, SMM statistics showed. Daily average deliveries from ports increased 9,000 mt from the prior week to 2.49 million mt last week. Deliveries from ports in Tangshan inched up as some steel mills resumed production after the heating season. Most steel mills restocked only as needed.

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Source: Metals Market Index (MMi)

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