Iron ore arrivals at Chinese ports fall for 2nd straight week
Major Chinese ports saw arrivals of seaborne iron ore falling for the second consecutive week as of the end of August, SMM data showed on Tuesday September 3.
SMM estimates that 74 vessels carrying 11.35 million mt of iron ore arrived at major Chinese ports during August 25-31, down 1.84 million mt from the week ended August 24.
Last week, iron ore deliveries leaving Australian ports rebounded 2.82 million mt from the prior week to 15.14 million mt as shipments recovered at Port Hedland. Shipments that departed Brazilian ports were estimated to fall 1.42 million mt on the week to 7.12 million mt.
These are likely to grow arrivals at Chinese ports in the second half of September.