Shipments of iron ore may fall by 8.2 percent this month
after supplies shrank from Brazil, India and South Africa, says Standard Bank.
Output loss from a strike ending today at South Africa's
Sishen mine, the country's largest mine is estimated at 1.6 million metric tons.
Protesters in Brazil blocked a railroad transporting ore from the Carajas mine
of Vale SA, the world's biggest producer, for four days earlier this month,
which equated to a loss of 1 million tons of shipments.
Mining bans in India is expected to cut supply further by 5
million tons from Goa in October, according to the bank.
“We estimate that 8.2 percent of seaborne supplies have been
lost from the market in October due to these various policy-driven and
protester incidents.”
However, the prices have rebounded by 30 percent since
plunging to a near-three year low on Sept. 5.
Source: Bloomberg
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