Iron Ore Spot Supply at Ports to Tighten on Tianjin Blasts, SMM Says

SHANGHAI, Aug. 14 (SMM) – Spot supply of iron ore at north China’s ports is expected to tighten after Tianjin’s blasts, Shanghai Metals Market foresees.  

“North China’s ports will see tighter supply due to transportation interruption after the blasts and steel mills’ pick-up before Beijing’s parade on Sept. 3,” SMM says.   

The price of some-grade iron ores at north China’s ports, such as Rizhao was up 5-10 yuan per tonne after the deadly accident.  

“So far, there is little impact of the blasts on steel mills, which have the raw material stored at the Port of Tianjin,” SMM adds.  

During a telephone contact with relevant mills, Steelease was told that their production was little affected by supply of the ore after the blasts, as they could also pick up their goods from the Port of Rizhao in Shandong Province, in addition to factories'stocks.

The Port of Tianjin has a total of 7.1 million tonnes of iron ore, and 1.4 million tonnes of them are stored in the northern part of the port, where the massive blasts happened, with daily withdrawals around 60,000-70,000 tonnes, Steelease understands. 

Ores at Port of Tianjin are mainly supplied to steel mills in Shanxi and Hebei, SMM notes. 

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.