MMi Daily Iron Ore Index Report October 12 2021

According to data tracked by SMM, 91 ships arrived at domestic main ports from October 4-10. Arrivals of cargoes are estimated to stand at 13.86 million mt, up 390,000 mt from the previous week, but down 809,000 mt year on year. Shipments that departed Australian ports were estimated to decrease 1.28 million mt week on week to 18.2 million mt, up 1.54 million mt on the year, and that from Brazilian ports decreased 2 million mt to 4.3 million mt on a weekly basis, down 3.18 million mt on the year. The arrivals of cargoes at domestic ports increased, but the total shipments from Australia and Brazil declined. The production restrictions eased after the National Day holiday, and the molten iron output is expected to rebound, which will boost the prices. DCE iron ore futures market vibrated narrowly, with flat quotations in the physical port stock market. PBF was closed at 890-900yuan/mt in Shandong market and that in Tangshan market was concluded at 910-920yuan/mt, and total transaction atmosphere proved to be insipid.

Source: Metals Market Index (MMi)