Iron ore arrivals at Chinese ports shrank 2.08 million mt on week

SHANGHAI, Oct 27 (SMM) – A total of 83 vessels carrying 13.07 million mt of iron ore arrived at major Chinese ports during October 18-24, SMM estimates. This was down 2.08 million mt from the previous week, and down 930,000 mt from the same period last year. The amount of arrivals in Shandong extended declines on the week, while those in Tangshan extended slight gains.

For the same week, iron ore deliveries leaving Australian ports decreased 2.92 million mt on a weekly basis, but up 1.63 million mt on a yearly basis, to 14.63 million mt.

Shipments that departed Brazilian ports were estimated to hold largely stable at 7.52 million mt.

Decreased iron ore arrivals at Chinese ports provided limited traction to spot and futures prices.