SHANGHAI, May 28 (SMM) – Some 63 vessels with 9.24 million mt of iron ore are expected to arrive at major Chinese ports during May 25-31, SMM learned. This will be down 670,000 mt from 9.91 million mt during May 18-24.
As cargoes accumulate at ports in east and north China, inventory pressure there is likely to linger during May 25-31 despite lower volumes of arrivals.
For the same period, volumes of iron ore departing Australian ports are likely to increase 820,000 mt to 16.17 million mt, SMM learned. This compared with a drop of 660,000 mt during May 18-24, the first decline after five consecutive weeks of growth.
Iron ore shipments leaving Brazilian ports are likely to grow 590,000 mt to 8.45 million mt. This is up from 7.86 million mt previously.
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