SHANGHAI, Aug 17 (SMM) – The decline of seaborne iron ore arrivals continued to lower stocks across major Chinese ports this week. Weaker purchasing interest across mills also reduced daily average deliveries departing those ports, SMM research found as of Friday August 17.
Stocks across 35 Chinese ports declined 1.34 million mt from a week ago to stand at 138.82 million mt as of August 17. Daily average volumes departing those ports shrank 38,000 mt to 2.458 million mt, SMM data showed.
Mills in the east made fewer purchases after they made large purchaes last week. Torrential rainfall in Tangshan hampered purchasing interests of mills in the region.
