MMi Daily Iron Ore Index Report September 16 2019

SMM statistics showed that as of September 12, iron ore stocks across 35 Chinese ports shrank 1.55 million mt from a week ago to 108.75 million mt. Year on year, stocks shrank 26.49 million mt. Daily average deliveries from the 35 ports continued to increase last week, which grew 27,000 mt on a weekly basis and 273,700 mt on a yearly basis to 2.9 million mt. Brisk stockpiling by steel mills in Tangshan raised the daily average deliveries from Jingtang port and Caofeidian port to more than 320,000 mt.
Deliveries from major ports in Shandong fell as most local steel mills planned to stockpile for the National Day hoilday after the Mid-Autumn Festival. Deliveries from some ports along the Yangtze River increased slightly as some mills increased purchases and would continue to do so after the three-day holiday.

Source: Metals Market Index (MMi)