Iron Ore Arrivals at Chinese Ports Increased Slightly, Shipments from Australia and Brazil Diverged

SHANGHAI, Jul 26 (SMM) - SMM data showed that a total of 84 ships arrived at major ports in China from July 18 to July 24, carrying 12.41 million mt of iron ore, up 930,000 mt on a weekly basis and 670,000 mt from a year ago.
In the same period, shipments from Australia were 16.84 million mt, up 420,000 mt week-on-week and 50,000 mt YoY; shipments from Brazil were 6.42 million mt, down 640,000 mt week-on-week and 160,000 mt YoY.
According to historical data, the third quarter is still the peak of overseas shipments, thus it is expected that there will be a certain increase in future shipments.
At present, the demand for imported ore is weak. It is necessary to pay attention to the continuity of the profit of steel mills and their output resumption plans. It is expected that iron ore price will continue to fluctuate weakly in the short term.