SHANGHAI, Apr 23 (SMM) – Eighty-seven vessels carrying 13.23 million mt of iron ore arrived at major Chinese ports during April 15-22, up 2.73 million mt from the previous week, SMM forecasted on Tuesday April 23. Arrivals at major ports in the east and north grew considerably during the period.
For the same week, iron ore shipments departing Australian ports increased 1.13 million mt, to stand at 16.76 million mt, as the impact of cyclones waned. Inventories of Australian ore across major Chinese ports shrank sharply as of April 23, and this will underpin spot prices of iron ore.
Iron ore leaving Brazilian ports was expected to grow 260,000 mt, but remain at lows of 3.55 million mt. Declines in stocks of Brazilian ore at Chinese ports are likely to expand in the weeks ahead.
