Iron Ore Arrivals at Chinese Ports Down 1.73 million mt on Week

SHANGHAI, Oct 19 (SMM) – According to data tracked by SMM, 82 ships arrived at domestic main ports from October 11-17. Arrivals of cargoes are estimated to stand at 12.13 million mt, down 1.73 million mt from the previous week and 3.02 million mt year on year.

Shipments that departed Australian ports were estimated to increase 0.79 million mt week on week to 19.0 million mt, up 1.44 million mt on the year; and that from Brazilian ports decreased 0.6 million mt to 3.7 million mt on a weekly basis, down 3.79 million mt on the year.

The arrivals of iron ore at ports decreased from the prior week, while those from Australia and Brazil increased slightly as a whole. The near-term output of molten iron is likely to drop amid the power rationing, pressing iron ore prices.