Iron ore arrivals at Chinese ports rose 850,000 mt on week

SHANGHAI, May 18 (SMM) – A total of 80 vessels carrying 12.18 million mt of iron ore arrived at major Chinese ports during May 9-15, SMM estimates. This was up 850,000 mt from the previous week but down 1.33 million mt from the same period last year.

For the same week, iron ore deliveries leaving Australian ports shrank 2.47 million mt on a weekly basis to 15.56 million mt. This was down 240,000 mt compared with the same period last year.

Shipments that departed Brazilian ports were estimated to rise 60,000 mt week on week to 5.67 million mt. This was 960,000 mt higher than the same period last year.

Although the amount of iron ore arriving at Chinese ports rose slightly this week, port stocks of medium and high-grade iron ore extended declines.