SHANGHAI, Oct 22 (SMM) – SMM estimates that 71 vessels carrying 10.5 million mt of iron ore arrived at major Chinese ports during October 13-19, down 2.18 million mt from the week ended October 12.
This marked the second straight week of decline in iron ore arrivals at Chinese ports.
Last week, iron ore deliveries leaving Australian ports shrank 1.15 million mt from the prior week to 12.21 million mt. Shipments that departed Brazilian ports were estimated to flat on the week at 6.23 million mt.
SMM expects near-term prices of spot seaborne iron ore to be supported as shipments from Australia during September-October were below typical levels of the previous years.