MMi Daily Iron Ore Report (Aug 16)

DCE performed relatively strong today, the physical port quotations kept stable over yesterday. Then traders continued to increase their quotations during the DCE trading period. Market deal activities at Tangshan area today began to be active.

As of June 4, iron ore inventories across 35 ports tracked by SMM totaled 118.38 million mt, a decrease of 1.06 million mt from the previous week, but up 19.58 million mt year-on-year. Daily average deliveries from the 35 ports increased 11,000 mt on a weekly basis to 2.69 million mt this week. Fewer arrivals and rigid demand of steel mills lowered inventory at some northern ports.

As of February 19, iron ore inventories across 35 ports tracked by SMM totaled 119.85 million mt, an increase of 1.96 million mt from pre-CNY level and 8.16 million mt year-on-year. The increase was contributed by some ports in Shandong, Tangshan and Yangtze River region.

Low iron ore inventories at the steel mills led brisk trades today, with higher prices for some products

Physical iron ore port stock quotes rose today, inline with increased transaction activity

Sixty-four vessels carrying 9.26 million mt of iron ore are likely to arrive at major Chinese ports during Nov 23-29

Physical iron ore port stock quotes dropped this morning on a falling rebar market

Seventy-three vessels carrying 10.56 million mt of iron ore are likely to arrive at major Chinese ports during Oct 26 to Nov 1

Iron ore inventory at 35 major Chinese ports rose by 880,000 mt to 143.06 million mt as of Friday as demand fell along the Ya ngtze River.