What is interesting about this report is that Brazilian exports are still declining. The increase in supply is coming from Australia. So, the prices may be lower due to all this intense jawboning, but the demand for Australian IO is till very good. On week, Brazilian exports declined 1.51mt.

Y-o-Y our exports were up by 3.7mt for the week, and Brazil's were down 0.9mt. Supply is only growing because our co's are shipping more. Go figure.

Iron Ore Arrivals at Chinese Ports Climbed 3.11 Million mt on Week

inDry Bulk Market,International Shipping News11/08/2021

A total of 94 vessels carrying 15.17 million mt of iron ore arrived at major Chinese ports during August 1-7, SMM estimates. The amount rose 3.11 million mt from the prior week and up 2.52 million mt from the same period last year.

In the same period, iron ore deliveries leaving Australian ports added 2.10 million mt on the week to 18.63 million mt, and rose 3.71 million mt from the same period last year. While those leaving Brazilian ports declined 1.51 million mt on the week to 6.28 million mt, and fell 0.94 million mt from the same period last year. Iron ore arrivals in China and exports from Australia both increased significantly.

Recently, Tangshan released its Air Quality Assurance Scheme for 2022 Winter Olympics, which urged crude steel output in Hebei to be decreased by 21.71 million mt throughout 2021. Tangshan will bring down its total output by 12.37 million mt. Iron ore demand will keep sluggish, pressuring iron ore prices.
Source: SMM News
https://www.hellenicshippingnews.com/iron-ore-arrivals-at-chinese-ports-climbed-3-11-million-mt-on-week/