Iron ore deliveries from Australia, Brazil extend declines on week

Published: May 21, 2019 15:18

Save

Lower shipments will keep iron ore port stocks from building up, and this may continue to support prices

SHANGHAI, May 21 (SMM) – Eighty-four vessels carrying 11.97 million mt of iron ore arrived at major Chinese ports during May 12-18, down 360,000 mt from the previous week, SMM forecasted on Tuesday May 21.

Lower shipments from Australia and Brazil will keep iron ore port stocks from building up, and this may continue to support prices.

For the same week, iron ore deliveries departing Australian ports decreased 260,000 mt, to stand at 14.82 million mt. Iron ore leaving Brazilian ports was expected to lost 430,000 mt week on week, to 4.75 million mt during May 12-18.

Tradeflow 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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

6 mins ago

WPIC: The Global Platinum Market Will Remain in Deficit for a Fourth Consecutive Year in 2026

The latest report released by WPIC on March 4 showed that by 2026, the global platinum market would face a deficit for the fourth consecutive year, with a shortfall of 240,000 troy ounces (about 7 mt). Current above-ground stocks could meet just over four months of market demand. In terms of supply, mine supply remained stable (173 mt), while recycling volume rose 10% to 57 mt; with no major new mines coming on stream, supply elasticity was extremely low. Demand side, industrial demand rebounded 11%, investment demand surged 35% to 23 mt (a new record), while demand in the automotive and jewelry sectors edged down slightly.

6 mins ago

12 mins ago

Dubai Flight Cancellations Disrupt Gold Shipments

The mass cancellation of flights to and from Dubai, a key bullion hub, has disrupted the movement of gold, revealing potential vulnerabilities in physical gold flows due to Middle East tensions.

12 mins ago

33 mins ago

Gold bulls say broader rally is intact despite investors' dash for cash

LONDON, March 3 (Reuters) - Gold's appeal as it draws support from the widening conflict in the Middle East is expected to remain intact even if some investors have favoured the dollar as their preferred safe haven, traders and analysts said.

33 mins ago