Arrivals of Imported Ore Dropped Slightly WoW, with a Small Increase in Australia and Brazil Departures

SHANGHAI, Apr 12(SMM) - According to data tracked by SMM, 63 ships arrived at domestic main ports from April 4-10. Arrivals of cargoes are estimated to stand at 9.662 million mt, down 790,000 mt from the previous week, and a decrease of 2.358 million mt from the same period last year. Shipments that departed Australian ports were estimated to be flat from last week to 17.2 million mt, down 2.86 million mt on the year, and that from Brazilian ports increased 500,000 mt to 5.36 million mt on a weekly basis, down 260,000 mt on the year. The arrivals of imported ore fell slightly from April 4-10, with a small increase in shipments from Australia and Brazil. Shipments from Australia stabilised, while those from Brazil were still unstable due to the rainy season. The arrivals will still hover at a low level, supporting the prices of ore, coupled with a steady rise in domestic demand. It is expected that ore prices will move upwards.