SMM estimates that there were 69 vessels carrying 11 million mt of iron ore arrived at major Chinese ports during March 22-28, down 750,000 mt from the week ended March 21 but up 1.02 million mt from the same period a year earlier. Arrivals in China’s steelmaking hub Tangshan rebounded on the week, while shipments arrived in Shandong declined.
During the same period, iron ore deliveries leaving Australian ports fell 1.07 million mt on the week to 16.32 million mt. This was 9.03 million mt higher than the same period last year, when a cyclone impacted rail traffic and deterred deliveries from Australia.
Shipments that departed Brazilian ports were estimated to shrink 170,000 mt on the week, to 4.61 million mt, 870,000 mt lower than the same period last year.
The combined iron ore shipments from Australia and Brazil remained in a steady upward trend and this is likely to lift the arrivals at Chinese ports in the near term.
Source:SMM News
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