SHANGHAI, Jun 28 (SMM) – According to data tracked by SMM, 71 ships arrived at domestic main ports in June 20-26. Arrivals of cargoes are estimated to stand at 10.77 million mt, down 0.68 million mt from the previous session and down 1.09 million mt year on year.
Shipments that departed Australian ports were estimated to rise 0.35 million mt week on week to 21.54 million mt, up 3.77 million mt on the year. And that from Brazilian ports added 0.6 million mt to 6.93 million mt on a weekly basis, down 0.47 million mt on the year. The total arrivals of imported ore dropped slightly from the prior session, while the combined shipments from Australia and Brazil rose slightly.
The total arrivals dropped mainly because shipments that departed Australia early in June fell due to local rainstorm. Currently, shipments from Australia and Brazil have been both rising, hence it is expected that the arrivals would rise in the following week. And the port inventory is likely to see the pivot amid sluggish domestic demand.
