MMi Daily Iron Ore Report (Feb 7)

A total of 91 vessels carrying 15.44 million mt of iron ore arrived at eight major Chinese ports during July 5-11, SMM estimates. This was down 350,000 mt from the prior week and down 2.08 million mt from the previous year. 

SMM data showed that iron ore stocks across 35 Chinese ports increased 340,000 mt from June 24 to 100.66 million mt as of July 3, following a 980,000 mt rise in the previous week.

A total of 104 vessels carrying 16.19 million mt of iron ore arrived at major Chinese ports during June 21-27, SMM estimates. This was down 370,000 mt from the prior week but up 3.87 million mt from the previous year. 

A total of 83 vessels carrying 13.37 million mt of iron ore arrived at major Chinese ports during May 17-23, SMM estimates. This was down 140,000 mt from the prior week. The amount of arrivals in China’s steelmaking hub Tangshan increased on the week, while shipments arrived in Shandong declined.

China’s imports of iron ore and concentrate dipped 0.6% in March from a year earlier to 85.91 million mt, according to data from the General Administration of Customs released on Tuesday.

The combined iron ore shipments from Australia and Brazil remained in a steady upward trend and this is likely to lift the arrivals at Chinese ports in the near term

Imports of Australian iron ore and concentrate were 0.84% higher on the year, standing at 106.9 million mt.

SMM estimates that there were 67 vessels carrying 11.61 million mt of iron ore arrived at major Chinese ports during March 1-7, up 1.93 million mt from the week ended February 29 and up 790,000 mt from the same period a year earlier. 

Coronavirus strikes, causing chaos in the Chinese iron ore market, just as the population prepares to come back to work following the National Lunar New Year Holiday.

SMM estimates that there were 71 vessels carrying 11.42 million mt of iron ore arrived at major Chinese ports during February 16-22, up 1.01 million mt from the week ended February 15.