SHANGHAI, Jun 26 (SMM) – Chinese ports saw fewer arrivals of seaborne iron ore last week, which will result in shortages of mainstream products and support prices of spot port cargoes.
SMM estimates that 74 vessels carrying 11.06 million mt of seaborne iron ore arrived at major Chinese ports in the week ended June 22, down 1.38 million mt from the previous week.
Arrivals at Tangshan ports continued to decline last week, while some ports in Shandong saw more arrivals.
Seaborne iron ore arrivals have declined for five of the last seven weeks.
Last week, iron ore deliveries departing Australian ports fell 1.02 million mt week on week to 14.12 million mt, while those leaving Brazilian ports increased by 2.17 million mt to 6.99 million mt, according to SMM data.