Iron ore arrivals at Chinese ports shrank 2.4 million mt on week

SHANGHAI, Apr 27 (SMM) – A total of 75 vessels carrying 9.91 million mt of iron ore arrived at major Chinese ports during April 18-24, SMM estimates. This was down 2.4 million mt from the previous week and 1.3 million mt from the same period last year.

For the same week, iron ore deliveries leaving Australian ports rose sharply by 1.95 million mt on a weekly basis to 18.08 million mt. This was down 750,000 mt compared with the same period last year.

Shipments that departed Brazilian ports were estimated to drop 1.49 million mt week on week to 5.51 million mt. This was 290,000 mt higher than the same period last year.

Lower iron ore arrivals at Chinese ports further boosted prices.