MMi Daily Iron Ore Index Report December 25 2020
As of December 25, iron ore inventories across 35 ports tracked by SMM totalled 117.88 million mt, an increase of 1.94 million mt from the previous week and 840,000 mt year-on-year. Daily average deliveries from the 35 ports increased 82,000 mt on a weekly basis to 2.77 million mt this week. Port arrivals in Tangshan increased 1 million mt on a weekly basis to 5.46 million mt, while deliveries from ports were curbed by control measures aimed at fighting heavy pollution, pushing up port inventory in the region. Rizhao port in Shandong was affected by heavy pollution in the first half of the week, causing the average daily deliveries from port to decrease 15,000 mt. Daily average deliveries from major ports in the Yangtze River region increased significantly due to a pick-up in ship unloading and increased purchases by local steel mills. Deliveries from ports are expected to rise further as steel mills begin to increase stockpiling.
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