Iron ore arrivals at Chinese ports rose 190,000 mt on week

SHANGHAI, June 1 (SMM) – A total of 84 vessels carrying 12.67 million mt of iron ore arrived at major Chinese ports during May 23-29, SMM estimates. This was up 190,000 mt from the previous week, and down 2.29 million mt from the same period last year.

For the same week, iron ore deliveries leaving Australian ports fell 1.38 million mt on a weekly basis to 15.92 million mt. This was down 710,000 mt from the same period last year.

Shipments that departed Brazilian ports were estimated to decrease 710,000 mt week on week to 6.32 million mt. This was 260,000 mt higher than the same period last year.

Although arrivals at Chinese ports increased slightly in this period, shipments from Australian and Brazilian ports to China decreased week on week. The demand side of iron ore was expected to increase due to the relaxation of production restriction in Tangshan, which continued to boost the current market of iron ore in the near term.