Iron ore price, page-22857

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Nannapat

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30/07/20

21:45

Post #: 46198366
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Originally posted by jhunt: ↑

Ok, so week on week, Brazilian exports (read Vale) departing Brazil were up 910,000 metric tonnes, giving them a run rate of close to 7 million mt for the week, or nerarly 1 million mt per day, which is what they need to meet the low end of their target (310 million mt). But they are still down 1.37million mt on IO leaving Brazil last year in the same period, in a year when they only shipped 302 million mt for the entire year. And anyway one swallow does not a spring make.

They are struggling mightily, but it is the wrong fight. Parauapebas, for instance, is in far worse straights than Melbourne, but they are not locking down- on the contrary,they are ramping up activity and releasing restrictions. And Vale has clout in the "Capital of the Ore", which is first and foremost a mining town on the edge of an immense forest: the Amazon basin.
Iron ore arrivals at Chinese ports slipped 1.67 million mt on week
inDry Bulk Market,Port News29/07/2020

SHANGHAI, Jul 28 (SMM) – A total of 93 vessels carrying 15.22 million mt of iron ore arrived at eight major Chinese ports during July 19-25, SMM estimates. That fell 1.67 million mt from the prior week but rose 810,000 mt from the previous year.
For the same week, iron ore deliveries leaving Australian ports declined 160,000 mt on the week to 16.56 million mt. The reading was 2.49 million mt higher as compared with the same period last year.
Shipments that departed Brazilian ports were estimated to rise 910,000 mt from the prior week to 6.73 million mt. That was about 1.37 million mt lower than the level of the same period last year.
The impact of port maintenance on iron ore deliveries from Australia and Brazil has waned and iron ore supply to China will stay at high levels. SMM expects inventories of seaborne iron ore at Chinese ports to further pile up in the weeks ahead.
Source: SMM News

https://www.hellenicshippingnews.com/iron-ore-arrivals-at-chinese-ports-slipped-1-67-million-mt-on-week/

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