SHANGHAI, Feb 15 (SMM) – According to data tracked by SMM, 81 ships arrived at domestic main ports in February 7-13. Arrivals of cargoes are estimated to stand at 12.47 million mt, up 1.8 million mt from the previous session and down 1.16 million mt year on year.
Shipments that departed Australian ports were estimated to drop 1.6 million mt week on week to 14.37 million mt, down 0.94 million mt on the year. And that from Brazilian ports rose 0.75 million mt to 4.76 million mt on a weekly basis, down 1.57 million mt on the year. The total arrivals of imported ore increased significantly from the prior session, and the combined shipments from Australia and Brazil also declined slightly. Currently speaking, the shipments from Brazil were stable, while those from Australia dropped palpably due to local hurricane.
Generally speaking, the shipments from overseas were low, while the port inventory was still on the rise, indicating sufficient supply. On the other hand, the production of sintering machines was still restricted by the Winter Olympics, reducing the demand for iron ore. It is expected that iron ore prices will be pressured and drop in the near term, combined with the government intervention.
