INDUSTRY NEWS

Traders' willingness to reduce their willingness to reduce their reserves

On October 21, Vale officially announced that the Itabirucu tailings dam was temporarily shut down, with an estimated impact on supply of 1.2 million tons in 2019, while Vale announced that it will lower its sales target for the 2019 fiscal year from the median of 3.07 million to 3.32 million tons to the interval. Lower edge. According to the latest annual plan of the four major mines, it is estimated that the supply of the four major mines will be 2.38 million tons in the fourth quarter, a decrease of 9.03 million tons from the same period of the previous year, and a slight increase of 210,000 tons in the third quarter. The overall supply is flat with the third quarter.

However, from September to October, the four major mine berths, railways and other equipment were overhauled, and shipments during the maintenance period were greatly affected, resulting in a sharp lag in the fiscal year in October. In October, Australia's three major mines shipped a total of 45.6 million tons of iron ore, a decrease of 4.167 million tons year-on-year. The Vale has shipped a total of 23.31 million tons of iron ore, a decrease of 5.754 million tons. If the four major mines have to complete the fourth quarter sales tasks, From November to December, the four major mines need to ship an average of 21.25 million tons per week, which is 21% higher than the weekly average shipment volume of 17.56 million tons in January-October.

Combined with the calculation of the shipping schedule, it is expected that the amount of iron ore arrivals in Brazil and Australia will increase due to the recovery of shipments after the first ten days of November.


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