China Iron Ore Port Inventories Grow for 3rd Consecutive Week, SMM Reports

The concentrate price index of domestic iron ore stood at 994.8 yuan/mt last week, up 7.4% from a week earlier. Domestic iron ore prices in the main regions rose 20-130 yuan/mt, mainly due to the following reasons. First, the steel mills have higher demand for iron ore after the National Day holiday. And the domestic ore output in some regions trended lower amid power rationing, torrential rain, transportation restrictions, but recovered slowly from the second half of last week. Meanwhile, the price increases of imported iron ore early last week boosted the domestic ore prices.

Offers of spot iron ore rose 5-10 yuan/mt on Monday May 14 as prices of futures continued to perform strongly

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A total of 73 vessels with 10.72 million mt of iron ore are expected to arrive at major Chinese ports during May 4-10, SMM learned.

Iron ore inventory at 35 Chinese ports amounted to 149.32 million mt as of Friday March 23, up 1.32 million mt from a week ago, SMM data showed.

Goldman Sachs expected iron ore price to extend declines, and to fall to $60 per tonne in late year.

China’s iron ore inventories grew this past week, bringing the second-straight-week decline to an end. 

Iron ore price in China’s major trading markets advanced last week, and what’s price outlook this week?

Trading sentiment in China's iron ore market is expected to pick up this week, Shanghai Metals Market foresees. 

Vale S.A. (Vale) reached a record for a first quarter of 86.20 million tonnes of iron ore production (including iron ore acquired from third parties) in the first quarter of 2017.