Iron Ore Arrivals at Chinese Ports Down 3.58 million mt on Week

SHANGHAI, Nov 30 (SMM) – According to data tracked by SMM, 54 ships arrived at domestic main ports in November 22-29. Arrivals of cargoes are estimated to stand at 8.24 million mt, down 3.58 million mt from the previous week and down 6.39 million mt year on year.

Shipments that departed Australian ports were estimated to decrease 0.43 million mt week on week to 18.46 million mt, up 2.93 million mt on the year. And that from Brazilian ports decreased 0.23 million mt to 4.95 million mt on a weekly basis, down 2.81 million mt on the year. The total arrivals of imported ore dropped significantly from the prior week, and the combined shipments from Australia and Brazil also declined slightly.

The blast furnaces have been resuming the production recently after some steel mills completed the crude steel production control target. Meanwhile, the Level II heavy air pollution alert was clear after the weather turned colder. On the other hand, a total of 10 steel mills in Tangshan were advanced in terms of performance category, and the number of mills categorised as D level has been reduced from 14 to 4. The near-term iron ore prices will gain comparatively support from various bullish news.