Iron Ore Inventory At 10 Major Chinese Ports Fell In April, But May Grow In May

SHANGHAI, May 10 (SMM) - Iron ore inventories across the ten major ports in China fell 3.1% MoM to 88.78 million mt as of April 28. Port arrivals of four major types of iron ore decreased month-on-month in April. Overseas production and shipments were disrupted by the rainy season and extreme weather, leading to a significant drop in port arrivals in April.  

Against the backdrop of sluggish end market, poor profit margins of steel mills, growing overseas shipments and sharp decline in pig iron production, inventories across 10 major ports in China may accumulate in May.