Iron ore arrivals at Chinese ports shrank 1.52 million mt on week

SHANGHAI, Dec 24 (SMM) – SMM estimates that there were 96 vessels carrying 14.74 million mt of iron ore arrived at major Chinese ports during December 15-21, 1.52 million mt lower from the week ended December 14. Iron ore arrivals rose 3.65 million mt in the week of December 14. 

Iron ore deliveries leaving Australian ports climbed 230,000 mt from the prior week to 14.68 million mt during December 15-21. Shipments that departed Brazilian ports were estimated to shrink by 310,000 mt on the week, to 5.84 million mt.

The combined shipments of iron ore from Australian and Brazilian ports stood 3.31 million mt lower from the same period a year earlier.

Cargo delivery currently runs normally at ports in Tangshan, China’s top steelmaking city, even as it reactivated smog alert for heavy air pollution this week. 

SMM expects the daily average iron ore shipments from Chinese ports to recover this week, which will reduce port inventories and support spot prices of seaborne iron ore.