Iron Ore Inventories Fall at 35 China Ports, SMM Data

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.

China will ban coal, iron, iron ore, lead, lead ore, aquatic and marine products from North Korea from Aug. 15.

Arriving shipments of iron ore at 24 Chinese ports are expected to fall sharply during July 20-August 3 compared to July 13-27, SMM estimates.

The country's iron ore imports increased modestly during the month of February this year, says latest trade statistics released by Eurostat.

The country imported 11.393 million tonnes of iron ore in April ’17.

France’s iron ore imports during October this year totaled 1.191 million tonnes, rising significantly by 120.7% when compared with the exports during the same month a year before.