Iron ore arrivals at Chinese ports dip 2.31 million mt on week
Arrivals of seaborne iron ore at Chinese ports shrank last week, as cargoes that arrived at ports in both Shandong and Tangshan slid week on week.
SMM estimates that 85 vessels carrying 12.1 million mt of iron ore arrived at major Chinese ports during July 28-August 3, down 2.31 million mt from the week ended July 27, after arrivals rebounded 2.88 million mt in the previous week.
During July 28-August 3, iron ore deliveries departing Australian ports grew 500,000 mt from the prior week to 14.57 million mt. Shipments that left Brazilian ports expanded 850,000 mt to 7.24 million mt.
Iron ore deliveries leaving both Australian and Brazilian ports have increased for two consecutive weeks as of August 3, and this is expected to grow arrivals at Chines ports in mid- or late- August.