A total of 91 vessels carrying 14.05 million mt of iron ore arrived at major Chinese ports during May 3 -9, SMM estimates. This was up 1.21 million mt from the prior week, and up 1.72 million mt from the same period last year.

SMM data showed that iron ore stocks across 35 Chinese ports totalled 102.96 million mt as of May 8, down 2.29 million mt from April 30 and 21.53 million mt lower than a year ago. Daily average deliveries from the 35 ports decreased 18,000 mt from the week before the long holidays to 2.88 million mt last week.

The physical port stock quotes in the morning tended to up by 5yuan/mt while transactions were concluded successively with prices flat and some inched down slightly over that before the holiday.

Iron ore physical port stock prices inched down over the morning session when DCE iron ore futures market walked downward, and although some traders expanded their negotiating space in the afternoon session, mills purchasing enthusiasm has yet to be aroused, total transactions today fell off.

A total of 89 vessels carrying 13.83 million mt of iron ore arrived at major Chinese ports during April 5-11, SMM estimates. This was up 400,000 mt from the prior week, and up 2.82 million mt from the same period last year.

A total of 86 vessels carrying 13.43 million mt of iron ore arrived at major Chinese ports during March 29 to April 4, SMM estimates. This was up 2.43 million mt from the prior week, and up 1.35 million mt from the same period last year.

Bearish sentiment pervaded the physical iron ore market today, with some port stock brands trading 10yuan/mt lower than yesterday.

DCE iron ore futures market has gone through a violent volatility while quotations in the physical port stock market remained calm. PBF was traded at 655yuan/mt in Shandong market and 660yuan/mt in Tangshan market, keeping flat over yesterday.

SMM estimates that there were 67 vessels carrying 11.61 million mt of iron ore arrived at major Chinese ports during March 1-7, up1.93 million mt from the week ended February 29 and up 790,000 mt from the same period a year earlier.

DCE iron ore futures followed the sell-off in the overseas capital markets. Physical port stock prices in China were down by at least 10-20yuan/mt early this morning, PBF traded at 630-635yuan/mt in Shandong, and was trading around 645-650yuan/mt in Tangshan,down by 15-20yuan/mt over last Friday.