Tuesday, 13 Dec 2011
Bloomberg reported that iron ore imports by China, the biggest buyer rebounded 29% in November from an eight month low as some steelmakers replenished their stockpiles after prices fell.
The General Customs said the country imported 64.2 million tonnes of iron ore last month. This is the highest since January and compares with 49.94 million tonnes in October.
IG Markets Chris Weston said November 30 that iron ore prices for immediate delivery tumbled 31% in October amid China credit tightening and slowing steel demand from builders and automakers. The prices will find a floor at USD 120 a ton as Chinese steelmakers replenish stockpiles
(Sourced from Bloomberg)
Showing posts with label iron ore stockpiles at ports. Show all posts
Showing posts with label iron ore stockpiles at ports. Show all posts
Tuesday, December 13, 2011
Thursday, October 27, 2011
Chinese iron ore destocking could take months - FMG
Thu, 27 Oct2011
Reuters quoted Australian miner Fortescue Metals Group said global iron ore prices down nearly 30% since early September could take months to recover as Chinese steel mills work off inventories.
Mr Nev Power Fortescue CEO told a media conference that "We are seeing some short term volatility because the steel mills are destocking in China. It has been a little more hand to mouth than what it has been."
Mr Power said “Fortescue held all its long term contracts in place and that those sales were going through. It's really the shorter term sales that are being shifted around and changed."
Mr Power when asked how long Chinese steel mills would continue to draw on existing inventories of iron ore said that "Probably a matter of weeks, maybe stretching to a couple of months."
He said weakening Chinese steel prices is contributing to reluctance by mills to immediately replenish stockpiles of iron ore.
He added that the steel prices have come down in China particularly the rebar price and that is causing some pain with the steel mills."
Mr Power said "We see continued strong growth, and that is going to be driven by the continued urbanization of central and western Chinese provinces, which are largely undeveloped and lack infrastructure at this stage."
(Sourced from Reuters)
Reuters quoted Australian miner Fortescue Metals Group said global iron ore prices down nearly 30% since early September could take months to recover as Chinese steel mills work off inventories.
Mr Nev Power Fortescue CEO told a media conference that "We are seeing some short term volatility because the steel mills are destocking in China. It has been a little more hand to mouth than what it has been."
Mr Power said “Fortescue held all its long term contracts in place and that those sales were going through. It's really the shorter term sales that are being shifted around and changed."
Mr Power when asked how long Chinese steel mills would continue to draw on existing inventories of iron ore said that "Probably a matter of weeks, maybe stretching to a couple of months."
He said weakening Chinese steel prices is contributing to reluctance by mills to immediately replenish stockpiles of iron ore.
He added that the steel prices have come down in China particularly the rebar price and that is causing some pain with the steel mills."
Mr Power said "We see continued strong growth, and that is going to be driven by the continued urbanization of central and western Chinese provinces, which are largely undeveloped and lack infrastructure at this stage."
(Sourced from Reuters)
Friday, October 21, 2011
China imported iron ore stocks up in wk ended Oct 21
Fri Oct 21, 2011
SHANGHAI, Oct 21 (Reuters) - Stockpiles of imported iron ore at major Chinese ports rose marginally this week to 92.22
million tonnes by Friday, after declining for five consecutive weeks in a row.
Shipments from Australia fell over the week, while those from Brazil and India rose slightly.
Following is a table showing iron ore port stock movements in the last seven days.
Country of Stockpiles Change (%)
origin (mln T)
Total 92.22 +0.05
Australia 39.95 -0.17
Brazil 21.98 +0.23
India 11.40 +0.80
Source: Mysteel
Monday, August 15, 2011
Iron ore stockpiles at China's major ports (Aug 8- Aug 12)
Mon, Aug15, 2011
Till the close of last week (August 12), the imported iron ore stockpiles at China's major ports posted at 94.74 mln tonnes, down 0.61 mln tonnes from 95.35 mln tonnes previous week; out of which Australian ore stockpiles reached 38.01 mln tonnes, down 0.27 mln tonnes; Brazilian ore inventory increased 0.88 mln tonnes to 23.21 mln tonnes; Indian ore stocks dropped 0.37 mln tonnes at 13.60 mln tonnes.
(sourced MySteel)
Till the close of last week (August 12), the imported iron ore stockpiles at China's major ports posted at 94.74 mln tonnes, down 0.61 mln tonnes from 95.35 mln tonnes previous week; out of which Australian ore stockpiles reached 38.01 mln tonnes, down 0.27 mln tonnes; Brazilian ore inventory increased 0.88 mln tonnes to 23.21 mln tonnes; Indian ore stocks dropped 0.37 mln tonnes at 13.60 mln tonnes.
(sourced MySteel)
Saturday, February 19, 2011
China port iron ore stocks fall to 79.97 mln Tons this week
Fri, Feb18, 2011
BEIJING Feb 18 (Reuters) - Stockpiles of imported iron ore at major Chinese ports fell 160,000 tonnes this week to 79.97 million tonnes, the first weekly decline since Dec. 17, industry consultancy Mysteel said on Friday.
Brazilian ores stood at 21.65 million tonnes, up fractionally from last week, while ore from India rose 190,000 tonnes to 13.23 million tonnes.
Ore originating in Australia fell 280,000 tonnes to end the week at 29.16 million tonnes, Mysteel said.
Chinese iron ore imports rose 18.8 percent month on month in January to reach 68.97 million tonnes, the highest since September 2009.
(Reporting by David Stanway; Editing by Chris Lewis, sourced:Thomson Reuters)
Tags: Asian iron ore, China iron ore stockpiles at ports
BEIJING Feb 18 (Reuters) - Stockpiles of imported iron ore at major Chinese ports fell 160,000 tonnes this week to 79.97 million tonnes, the first weekly decline since Dec. 17, industry consultancy Mysteel said on Friday.
Brazilian ores stood at 21.65 million tonnes, up fractionally from last week, while ore from India rose 190,000 tonnes to 13.23 million tonnes.
Ore originating in Australia fell 280,000 tonnes to end the week at 29.16 million tonnes, Mysteel said.
Chinese iron ore imports rose 18.8 percent month on month in January to reach 68.97 million tonnes, the highest since September 2009.
(Reporting by David Stanway; Editing by Chris Lewis, sourced:Thomson Reuters)
Tags: Asian iron ore, China iron ore stockpiles at ports
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