Iron ore arrivals at Chinese ports increased 2.81 million mt on week

SHANGHAI, Sep 29 (SMM) – A total of 104 vessels carrying 15.01 million mt of iron ore arrived at major Chinese ports during September 20-26, SMM estimates. This was up 2.81 million mt from the previous week. The amount of arrivals in Shandong and Tangshan both increased week on week, with arrivals in Shandong rising more than 50%.

For the same week, iron ore deliveries leaving Australian ports rose 1.8 million mt on a weekly basis, and 4.3 million mt on a yearly basis, to 17.07 million mt.

Shipments that departed Brazilian ports were estimated to expand 1.74 million mt from the prior week to 8.33 million mt, up 970,000 mt on the year.

Iron ore port stocks are expected to extend gains after the National Day holidays as arrivals increased while steelmakers have already completed pre-holiday stockpiling.