Iron ore price, page-51356

a couple of releases on Sunday 18/2 from
mysteel including the below couple

China's imported iron ore prices to firm after CNY break
Source:MysteelFeb 18, 2024 16:45
Imported Iron Ore
Demand
Price
The official end of the eight-day Chinese New Year (CNY) holiday on February 18 may cause prices in China's imported iron ore market to rise in response to post-holiday restocking activity among steel mills and traders, market sources indicated.
The inventories of imported iron ore piled at most domestic steelmakers' works shrank by a large degree during the CNY holiday as the makers had to draw down their internal feedstocks, Mysteel Global noted.


Most mills ceased iron ore procurement at China's portside and seaborne markets during the holiday, primarily because traders had shut their businesses to enjoy the break, a Shanghai-based market watcher observed, while most mills' blast furnaces kept operating steadily.



China's seaborne iron ore prices remained unchanged during the holiday due to limited trading activity during the period, with Mysteel SEADEX 62% Australian Fines index still sitting at $126.6/dmt CFR Qingdao on February 16, unchanged since the last working day before the CNY break.


Aust., Brazilian iron ore shipments slump around holiday
Source:MysteelFeb 18, 2024 18:30
Imported Iron Ore
Shipment
The total volume of iron ore shipments dispatched to global destinations from the 19 ports and 16 mining companies in Australia and Brazil had retreated from the previous two-week rise around the Chinese New Year holiday, dropping by a large 2.7 million tonnes of 11.6% on week to register 20.6 million tonnes during February 5-11, with the shipments falling from both countries, according to Mysteel's survey.
During the survey week, Brazilian iron ore shipped worldwide from the country's nine ports slumped 1.4 million tonnes or 19.3% on week to 5.7 million tonnes after growing significantly in the previous week. Among the total, the volume sent from Vale also fell 551,000 tonnes or 11% million tonnes to 4.5 million tonnes.



Over the same period, the iron ore shipments from Australia's 10 ports to global destinations decreased for the second straight week by another 1.3 million tonnes or 8.1% on week to 14.8 million tonnes, with the volume shipped to the country's largest iron ore consumer China losing 643,000 tonnes or 4.7% on week to 12.9 million tonnes.