Iron Ore Inventories Across Ten Major Ports in China Dropped

SHANGHAI, Mar 28 (SMM) - The iron ore inventories across ten major ports in China dropped 0.7% from a week ago to 93.11 million mt last week. According to SMM data, 197 ships arrived at domestic ports from March 11 to March 17. During this period, shipments from Australia grew from 13.65 million mt to 15.73 million mt, while those from Brazil fell from 3.92 million mt to 2.32 million mt. Overseas shipments fell slightly last week, leading to a significant decline in iron ore arrivals at major Chinese ports. The arrivals of four major varieties of iron ore decreased compared with the previous week.