Iron ore price, page-16121

Port inventory data has come in a day earlier due to the mid Autumn holiday tomorrow.

SMM and Mysteel data both relatively the same. SMM look at top 35 ports whereas Mysteel use 45 ports.

http://static-metal.smm.cn/production/subscribe/email/GwYzX20190910183152.pdf

SHANGHAI, Sep 12 (SMM) – Inventories of iron ore across 35 Chinese ports fell this week for a second straight week, as steelmakers remained keen to stockpile raw materials ahead of holidays.

SMM data showed that stocks stood at 108.75 million mt as of Thursday September 12, down 1.55 million mt from Friday September 6 and 26.49 million mt from a year ago.

SMM IO daily report below:

......Prior to the Mid-Autumn Festival holiday, activity in the port stock market fell off. Traders stood on the side-lines, especially as the iron ore DCE Futures market leapt higher just prior to close. Traders in North China say they will come back into the market after the holiday, seeming confident and firm on the rising prices. According to SMM, rebar inventory has been declining for the last five weeks, which will support mill buying activity following the holiday. However, strict production cuts and transport control are still expected in mid-late September given the upcoming 70th anniversary celebration, and iron ore prices may be limited by these potential activities....




https://www.mysteel.net/article/501...s-iron-ore-port-stocks-fall-to-119-mln-t.html

WEEKLY: China’s iron ore port stocks fall to 119 mln t
Source：MysteelSep 12, 2019 18:15See Full-size Table Here
Stocks of imported iron ore at China’s 45 major ports continued declining over the September 6-12 period, with the volume down by 1.5 million tonnes or 1.2% on week to reach 119.4 million tonnes as of September 12. The decline was largely the result of fewer vessel arrivals and still relatively high discharge rates, according to Mysteel’s latest weekly survey on September 1