Iron ore arrivals at Chinese ports rose 1.65 million mt on week

SHANGHAI, Jun 16 (SMM) – A total of 91 vessels carrying 13.15 million mt of iron ore arrived at major Chinese ports during June 6-12, SMM estimates. This was up 1.65 million mt from the previous week, and up 780,000 mt from the same period last year.

For the same week, iron ore deliveries leaving Australian ports rose 1.54 million mt on a weekly basis to 17.77 million mt. This was up 1.14 million mt from the same period last year.

Shipments that departed Brazilian ports were estimated to decrease 60,000 mt week on week to 7.04 million mt. This was 400,000 mt higher than the same period last year.

Both arrivals and deliveries leaving Australian ports increased month on month. However, there is no obvious pressure on iron ore in the near term due to the high demand of domestic steel mills.