SHANGHAI, Jan 29 (SMM) – Fifty-seven vessels carrying 8.43 million mt of iron ore are expected to arrive at major Chinese ports in the week ended Thursday January 31, down 1.56 million mt from the previous week, SMM data showed.
Seaborne arrivals at major ports in Shandong province are likely to extend their declines. In Tangshan, arrivals will accumulate at Caifeidian port, but shrink significantly at Jingtang port.
For the same week, iron ore shipments departing Australian ports are expected to decrease by 2.08 million mt from the prior week to 12.9 million mt, affected by the tropical cyclone Riley.
Iron ore leaving Brazilian ports are also likely to dip by 160,000 mt to 7.5 million mt, as a burst dam at Vale’s Córrego do Feijão mine deterred shipments. The accident is expected to lower further iron ore deliveries from major Brazilian ports in the near term.
