Typhoons lower iron ore port stocks, daily deliveries

Published: Aug 24, 2018 13:22 (GMT+8)

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Stocks across 35 Chinese ports declined 1.34 million mt from a week ago to stand at 137.48 million mt as of Aug 24

SHANGHAI, Aug 24 (SMM) – Inclement weather lowered stocks of iron ore, across major Chinese ports and in daily deliveries from those ports on the week ended Friday August 24, SMM research found.

Stocks across 35 Chinese ports declined 1.34 million mt from a week ago to stand at 137.48 million mt as of August 24. Daily average volumes departing those ports also shrank 36,000 mt to 2.42 million mt, SMM data showed.

Daily average deliveries from ports in Tangshan rebounded on the week as the stormy weather subsided. However, volumes departing Tangshan's Caofeidian port dipped as production cuts were imposed steel mills in its vicinity.

Port inventory in Tangshan is expected to increase next week as more vessels arrive this week.

Inventory data Iron ore

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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