Iron ore arrivals at Chinese ports rose 1.02 million mt on week

SHANGHAI, Jun 29 (SMM) - According to data tracked by SMM, 88 ships arrived at domestic main ports from June 20-26. Arrivals of cargoes are estimated to stand at 12.88 million mt, up 1.02 million mt from the previous week, and a decrease of 3.31 million mt from the same period last year.

Shipments that departed Australian ports were estimated to increase 1.73 million mt week on week to 19.46 million mt, and that from Brazilian ports increased 1.41 million mt to 7.4 million mt on a weekly basis, but down 470,000 mt on the year.

The arrivals have increased at ports, while domestic demand has been suppressed by the environmental protection restrictions, and the supply of iron ore will gradually increase. The inventories at Chinese ports are expected to accumulate.