Iron ore arrivals at Chinese ports fell 1.48 million mt on week

SHANGHAI, Dec 8(SMM) – A total of 82 vessels carrying 13.15 million mt of iron ore arrived at major Chinese ports during November 29-December 5, SMM estimates. This was down 1.48 million mt from the previous week but up 540,000 mt from the same period last year.

For the same week, iron ore deliveries leaving Australian ports increased 150,000 mt on a weekly basis to 15.68 million mt, a year-on-year increase of 700,000 mt.

Shipments that departed Brazilian ports were estimated to decline 1.27 million mt week on week to 6.49 million mt. This was 1.49 million mt higher than the same period last year.

MMi 62% iron ore seaborne price index increased 11.7% in December, while prices of spot PB powder at ports in Shandong rose by about 7%, encouraging steel makers to purchase spot cargoes at ports.