SHANGHAI, Jan 5 (SMM) – According to data tracked by SMM, 77 ships arrived at domestic main ports in December 27 – January 2. Arrivals of cargoes are estimated to stand at 11.54 million mt, up 1.36 million mt from the previous week and down 2.72 million mt year on year.
Shipments that departed Australian ports were estimated to increase 1.2 million mt week on week to 21.25 million mt, up 2.58 million mt on the year. And that from Brazilian ports decreased 0.99 million mt to 5.58 million mt on a weekly basis, down 2.55 million mt on the year. The total arrivals of imported ore continued to increase from the prior week, and the combined shipments from Australia and Brazil also increased slightly.
The domestic operating rates of blast furnaces rose though the production of some still mills in Shanxi and Hebei was restricted by the heavy air pollution. Hence the iron ore demand is likely to increase, coupled with the restocking demand ahead of the Chinese New Year, which will offer some support to iron ore prices. On the other hand, however, as the arrivals at ports were still on the rise and the port inventory stood at a high level, the iron ore prices are expected to rise only limitedly.
