Iron ore arrivals at Chinese ports fall for 3 weeks

SHANGHAI, May 28 (SMM) – Eighty-three vessels carrying 11.1 million mt of iron ore arrived at major Chinese ports during May 19-25, down 865,000 mt from the previous week, SMM forecasted on Tuesday May 28. 

Arrivals decreased for three consecutive weeks as of May 25, and this may keep iron ore port inventories from rising. Shipments from Australia extended their declines since the start of May, while cargoes departing Brazil rebounded last week. 

During May 19-25, iron ore deliveries departing Australian ports shrank 560,000 mt from the prior week, to stand at 14.26 million mt. Iron ore leaving Brazilian ports was expected to increase 1.27 million mt week on week, to 6.02 million mt.