Iron ore arrivals at Chinese ports shrank 470,000 mt on week

SHANGHAI, Mar 30 (SMM) – A total of 84 vessels carrying 11.29 million mt of iron ore arrived at major Chinese ports during March 21-27, SMM estimates. This was down 470,000 mt from the previous week, and basically unchanged from the same period last year.

For the same week, iron ore deliveries leaving Australian ports rose 4.5 million mt on a weekly basis to 20.06 million mt. This was 3.74 million mt higher compared with the same period last year.

Shipments that departed Brazilian ports were estimated to increase 490,000 mt week on week to 6.44 million mt. This was 1.83 million mt higher than the same period last year.

Shipments that departed Brazilian ports increased sharply month on month. However, with the rapid recovery of profits of steel enterprises, steel mills have more production willingness, which will support iron ore prices.