MMi Daily Iron Ore Index Report April 12 2019

As of April 12, iron ore stocks across 35 Chinese ports shrank 5.36 million mt from a week ago and 15.83 million mt from a year ago, and stood at 131.93 million mt as the tropical cyclone in Australia and Vale’s dam accident significantly lowered arrivals across major ports in the east and north, SMM statistics showed. Daily average deliveries from ports increased 157,000 mt from
the prior week to 2.64 million mt last week. Greater purchases from production restarts drove daily deliveries from ports in the north back to normal levels. Daily deliveries from ports are likely to hold largely steady as steel mills restock as needed.

Source: Metals Market Index (MMi)