SHANGHAI, Oct 29 (SMM) – Major Chinese ports saw arrivals of seaborne iron ore rising last week, after two consecutive weeks of decline, SMM data showed on Tuesday October 29.
SMM estimates that 96 vessels carrying 13.37 million mt of iron ore arrived at major Chinese ports during October 20-26, up 2.87 million mt from the week ended October 19. Arrivals at ports in Shandong province expanded significantly.
Last week, iron ore deliveries leaving Australian ports increased 1.43 million mt from the prior week to 13.64 million mt. Shipments that departed Brazilian ports were also estimated to climb, by 1.51 million mt on the week.
Greater shipments are expected to further grow iron ore port inventories in China in the weeks ahead.