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MMi Daily Iron Ore Index Report July 23 2019

Arrivals of seaborne iron ore at Chinese ports declined last week, after two consecutive weeks of gains. SMM estimates that 87 vessels carrying 11.53 million mt of iron ore arrived at major Chinese ports in the week ended July 20, down 5.99 million mt from the week to July 13. Volumes that arrived at Tangshan’s two ports sharply decreased last week, and are unlikely to pick up in the near term. For the same week, iron ore deliveries departing Australian ports fell 840,000 mt from the prior week to 13.34 million mt. Shipments that left Brazilian ports expanded 360,000 mt to 6.05 million mt, reflecting a recovery in shipments and output from Brazil. Brazil’s Vale said on Monday July 22 that it sold 138 million mt of iron ore and pellets in the first half of 2019, and reaffirmed its revised full-year sales outlook for such materials at 307-332 million mt.

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Source: Metals Market Index (MMi)

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