Iron Ore Arrivals at Chinese Ports Up 390,000 mt on Week

SHANGHAI, Oct 12 (SMM) – According to data tracked by SMM, 91 ships arrived at domestic main ports from October 4-10. Arrivals of cargoes are estimated to stand at 13.86 million mt, up 390,000 mt from the previous week, but down 809,000 mt year on year.

Shipments that departed Australian ports were estimated to decrease 1.28 million mt week on week to 18.2 million mt, up 1.54 million mt on the year, and that from Brazilian ports decreased 2 million mt to 4.3 million mt on a weekly basis, down 3.18 million mt on the year.

The arrivals of cargoes at domestic ports increased, but the total shipments from Australia and Brazil declined. The production restrictions eased after the National Day holiday, and the molten iron output is expected to rebound, which will boost the prices.