Iron Ore Inventory Across Ten Chinese Ports Dip 0.4% on the Week

SHANGHAI, Mar 3 (SMM) - The iron ore inventories across ten major ports in China dropped 0.4% to 96.79 million mt on the week. According to SMM data, 199 ships arrived at domestic ports from February 18 to February 24. During this period, shipments from Australia grew from 12.57 million mt to 14.96 million mt, while those from Brazil fell from 3.12 million mt to 1.89 million mt. Overseas shipments increased as the impact of overseas weather conditions and port maintenance subsided, while Brazil reduced the shipment volume of iron ore to China.

The inventory of lump and pellets climbed 1.2% and 2.8% respectively to 15.61 million mt and 5.98 million mt respectively. Fine inventory and concentrate inventory dipped 0.6% and 4% respectively to 67.96 million mt and 7.24 million mt respectively.