Iron ore port inventory shrinks on steady demand

Published: May 11, 2018 11:42

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Iron ore inventories across 35 major Chinese ports shrank 1.35 million mt to 145.27 million mt as of Friday May 11

SHANGHAI, May 11 (SMM) – Iron ore inventories across 35 major Chinese ports shrank 1.35 million mt to 145.27 million mt as of Friday May 11, SMM data showed. This compared with 146.62 million mt on Friday May 4.

Overall port inventories shrank as the upcoming SCO Summit affected volumes arriving Qingdao port. Significant deliveries from ports in east and north China also weighed on port inventories.

Daily average volumes delivered from ports this week rose 24,000 mt week on week to stand at 2.45 million mt.

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