China iron ore port stocks fell amid steelmakers restocking-Shanghai Metals Market

Hot Keywords

  • Copper
  • Production data
  • 2019 South China Metals Summit
  • Zinc
  • Inventory data
  • Market commentary
  • Macroeconomics
  • Sales data
  • Aluminium
  • trend forecast
  • iron ore
  • Operation update
  • MMi Iron Ore Port Index
  • Lithium hydroxide
  • Futures movement

China iron ore port stocks fell amid steelmakers restocking

Data Analysis 11:27:04AM Nov 01, 2019 Source:SMM

SHANGHAI, Nov 1 (SMM) – Inventories of iron ore across Chinese ports declined this week, as steel mills in the top steelmaking hub of Tangshan stepped up their purchases amid temporary anti-smog curbs on road transport after the week-long National Day holiday in early October.

SMM data showed that iron ore stocks across 35 Chinese ports decreased by 2 million mt from a week ago to 116.79 million mt as of November 1, 15.71 million mt lower than a year ago.

The daily average iron ore deliveries from those ports jumped 259,000 from the prior week to 2.88 million mt in the week ended November 1. The print was 12,700 mt higher than the same period last year.

A fresh round of heavy smog hit north, central and east China this week, prompting regions including Hebei, Henan, Shanxi, Shandong, Anhui and Jiangsu to impose production curbs. This is likely to dampen demand for iron ore and drive up stocks at ports.

Key Words:  Inventory data  Iron ore 

China iron ore port stocks fell amid steelmakers restocking

Data Analysis 11:27:04AM Nov 01, 2019 Source:SMM

SHANGHAI, Nov 1 (SMM) – Inventories of iron ore across Chinese ports declined this week, as steel mills in the top steelmaking hub of Tangshan stepped up their purchases amid temporary anti-smog curbs on road transport after the week-long National Day holiday in early October.

SMM data showed that iron ore stocks across 35 Chinese ports decreased by 2 million mt from a week ago to 116.79 million mt as of November 1, 15.71 million mt lower than a year ago.

The daily average iron ore deliveries from those ports jumped 259,000 from the prior week to 2.88 million mt in the week ended November 1. The print was 12,700 mt higher than the same period last year.

A fresh round of heavy smog hit north, central and east China this week, prompting regions including Hebei, Henan, Shanxi, Shandong, Anhui and Jiangsu to impose production curbs. This is likely to dampen demand for iron ore and drive up stocks at ports.

Key Words:  Inventory data  Iron ore