Iron ore arrivals at Chinese ports slipped 1.67 million mt on week

SHANGHAI, Jul 28 (SMM) – A total of 93 vessels carrying 15.22 million mt of iron ore arrived at eight major Chinese ports during July 19-25, SMM estimates. That fell 1.67 million mt from the prior week but rose 810,000 mt from the previous year. 

For the same week, iron ore deliveries leaving Australian ports declined 160,000 mt on the week to 16.56 million mt. The reading was 2.49 million mt higher as compared with the same period last year. 

Shipments that departed Brazilian ports were estimated to rise 910,000 mt from the prior week to 6.73 million mt. That was about 1.37 million mt lower than the level of the same period last year.

The impact of port maintenance on iron ore deliveries from Australia and Brazil has waned and iron ore supply to China will stay at high levels. SMM expects inventories of seaborne iron ore at Chinese ports to further pile up in the weeks ahead.