Daily iron ore deliveries leaving Chinese ports rebound on week

SHANGHAI, Feb 22 (SMM) – Iron ore deliveries leaving 35 major Chinese ports averaged 2.62 million mt per day in the week ended February 22, up 197,000 mt from the previous week, reflecting recovering demand, SMM data showed.

For the same week, stocks of iron ore across those ports gained 320,000 mt to stand at 132.32 million mt as Caofeidian, Rizhao ports and major ports along the Yangtze River saw more seaborne arrivals.

As steel mills in Tangshan began to purchase, the average daily iron ore deliveries departing Jingtang port rose substantially this week, reaching 340,000 mt.

Chinese ports are expected to see more iron ore leave for steel mills next week amid restocking demand.