SHANGHAI, Jul 4 (SMM) – Iron ore arrivals at Chinese ports are likely to extend their gains over the week ending July 5 with volumes reaching ports in Tangshan remaining at high levels, SMM research found.
During June 29-July 5, some 72 vessels with 11.15 million mt of iron ore are expected to arrive at major Chinese ports. This is up 1.05 million mt from 10.1 million mt during June 22-28, after increasing 1.06 million mt in the previous week.
Ports in Tangshan, Hebei province, are expected to continue to see large amounts of arrivals while those in Shandong province or along the Yangtze River would see fewer arrivals.
For the same period, volumes of iron ore departing Australian ports are likely to shrink 1.33 million mt to 15.2 million mt; those leaving Brazilian ports are also likely to fall 290,000 mt to 7.96 million mt.
