SMM data showed that from March 14 to March 20, a total of 70 ships arrived at major ports in China, carrying 10.75 million mt of iron ore, up 470,000 mt week on week, but down 2.47 million mt from a year ago.
During the same period, shipments from Australia were 17.25 million mt, up 1.14 million mt week on week and 3.01 million mt year on year; Shipments from Brazil amounted to 4.67 million mt, up 800,000 mt week on week, but decreased by 1.28 million mt year on year.
Recently, the pandemic in China has worsened, especially in Shandong and Tangshan, the two main steel producing regions where production and transportation have been affected. This situation may put a downward pressure on iron ore by curbing iron ore demand in the short term.
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