Iron ore arrivals at Chinese ports down 430,000 mt on week

SHANGHAI, Jul 13 (SMM) — According to data tracked by SMM, 88 ships arrived at domestic main ports from July 4-10. Arrivals of cargoes are estimated to stand at 13.18 million mt, down 430,000 million mt from the previous week, and a decrease of 3.71 million mt from the same period last year.

Shipments that departed Australian ports were estimated to decrease 1.26 million mt week on week but rise 2.4% year on year to 16.31 million mt, and that from Brazilian ports increased 240,000 million mt to 7.27 million mt on a weekly basis, and up 16.8% mt on the year.

As the volume of imported ore arrivals was basically stable from the same period last year, the pressure on the supply side was not high for the time being. At this stage, the iron ore market is mainly disturbed by the domestic policy on reducing crude steel production. The market will continue to pay attention to the implementation of production cuts.