A total of 76 vessels carrying 12.2 million mt of iron ore arrived at major Chinese ports during September 13-19, SMM estimates. This was down 2.44 million mt from the previous week. The amount of arrivals at major Shandong ports fell sharply week on week, while that in Tangshan rose by more than 20%.
For the same week, iron ore deliveries leaving Australian ports shrank 750,000 mt on a weekly basis, but increased 2.09 million on a yearly basis, to 15.27 million mt.
Shipments that departed Brazilian ports were estimated to decline 2.08 million mt from the prior week to 6.59 million mt, basically flat on the year.
Restocking demand for iron ore from steelmakers ahead of the National Day holiday may boost spot and future iron ore prices.
Source:SMM
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