Iron Ore Inventory Affects Steel Coil Prices

This week, total global iron ore shipments were 35.104 billion tonnes, an increase of 794,000 tonnes from the previous month. Total iron ore shipments from Australia and Brazil were 29.194 billion tonnes, an increase of 506,000 tonnes from the previous month. Total shipments from Australia were 21.699 billion tonnes, an increase of 2.493 billion tonnes from the previous month, of which Australia sent 18.920 billion tonnes to China, an increase of 3.922 billion tonnes from the previous month. Total shipments from Brazil were 7.496 billion tonnes, a decrease of 1.987 billion tonnes from the previous month. Total arrivals from 45 ports in China were 26.093 billion tonnes, an increase of 728,000 tonnes from the previous month. Total arrivals from the six northern ports reached 13.836 million tons, a decrease of 1.572 million tons from the previous month. The price of galvanized steel coils is expected to continue to fall by 10 to 20 yuan this week.
This week, global iron ore shipments rebounded further, reaching 35.104 million tons, just shy of the three-year high. However, the seasonal peak is earlier than in previous years. Therefore, with high end-of-season demand, the high shipments from mid- to late June will continue. Furthermore, the volume shipped from Australia to China increased by nearly 4 million tons, reaching the highest level in recent years. Regarding port arrivals, the volume of arrivals at 45 ports rebounded slightly to 728,000 tons, representing a year-on-year increase of 10.2%. However, from the perspective of cast iron, under the high-speed iron ore water of 2.4 million tons, the pressure on the port warehouse accumulation is not great. Overall, the short-term fundamentals of iron ore remain good, but with a high volume of shipments, supply will gradually decline and fundamental support will weaken, which will somewhat restrain the ore price. The price of steel coils fluctuates constantly. If you need information, please contact us. Jingtai Factory's main export products: PPGI, PPGL, GI GL.