Iron ore deliveries from Australia, Brazil extend declines on week

SHANGHAI, May 21 (SMM) – Eighty-four vessels carrying 11.97 million mt of iron ore arrived at major Chinese ports during May 12-18, down 360,000 mt from the previous week, SMM forecasted on Tuesday May 21. 

Lower shipments from Australia and Brazil will keep iron ore port stocks from building up, and this may continue to support prices. 

For the same week, iron ore deliveries departing Australian ports decreased 260,000 mt, to stand at 14.82 million mt. Iron ore leaving Brazilian ports was expected to lost 430,000 mt week on week, to 4.75 million mt during May 12-18.