Iron ore prices on the rise despite sluggish trade on the primary market. Quotes are supported by the limited offer from major iron ore producers, shrinking stockpiles at Chinese ports and optimistic sentiment related to the upcoming economic developments in China.
On average, as many as 209 wagons were transferred daily through the Chop – Čierna nad Tisou land border crossing point as of November 9 (down 41 units in two weeks). In particular, 183 wagons were moving on export routes (down 40 units), while 26 wagons arrived with imported goods (down 1 wagon).
Iron ore prices are on the rise in China despite weak demand and another 1.8 million t hike in port stockpiles to 108.8 million t.
About 630 wagons were reportedly heading to the Batiovo – Epereshke land border crossing point on November 13, including 90 wagons with grain and 84 wagons with vegetable oil. As many as 103 wagons of which 81 units with grain were on their way to the Chop – Zahony border crossing on that date.
A total of 120.59 million tonnes of goods of various product groups were transported in the Ukrzaliznytsia rail network during the period started January 1 and ended October 31, 2023, down 7% compared with the same period of the previous year.
Iron ore quotes keep growing in China despite steadily low demand. Prices are supported by improved economic forecasts and concerns about possible shortage of imported iron ore (the Australian Mining and Energy Union said train drivers at BHP Group’s iron ore assets were preparing for strikes).
About 11,480 wagons with various goods were found waiting for a transfer through Ukraine’s western land border crossing points on November 1 compared with 11,600 wagons in late October.
Prices for imported iron ore have risen in China mainly due to decreasing stockpiles of the raw material in local ports. Thus, iron ore stockpiles shrank by 250,000 t to 104.9 million t over the week, so now it is the lowest level in the past five years.
Up to 250 wagons were transferred daily through the Chop – Čierna nad Tisou land border crossing point as of October 26 (down 41 units in two weeks). In particular, 223 wagons were moving on export routes (down 35 units), while 27 wagons arrived with imported goods (down 6 wagons).
Approximately 534 wagons were reportedly heading to the Batiovo – Epereshke land border crossing point on October 30, including 99 wagons with ore, 113 wagons with grain and 106 wagons with vegetable oil.