Iron ore arrivals at Chinese ports continued to expand on week

A total of 94 vessels carrying 15.38 million mt of iron ore arrived at major Chinese ports during May 31-June 6, SMM estimates. This was up 440,000 mt from the prior week and up 1.13 million mt from the previous year.

The amount of arrivals in Shandong edged higher on the week while shipments arrived at two ports in China’s steelmaking hub Tangshan decreased 17% week on week.

For the same week, iron ore deliveries leaving Australian ports rebounded 2.43 million mt on the week to 19.06 million mt, some 3.37 million mt higher than the same period last year.

Shipments that departed Brazilian ports were estimated to expand 1.26 million mt from the prior week to 7.32 million mt, about 340,000 mt higher than the level of the same period last year.

There remain uncertainties about iron ore production and shipment from Brazil in the near term due to the coronavirus impact, which has led to the closure of Vale’s Itabira mining complex in Minas Gerais state.
Source: SMM

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