Strong demand slowed down the piling of iron ore stocks at 35 ports

As of March 1, iron ore inventory across 35 ports tracked by SMM totalled 135.47 million mt, up 2.83 million mt WoW but down 790,000 mt YoY. Daily average delivery from the ports was 2.82 million mt, up 220,000 mt WoW but down 269,000 mt YoY.
Despite dip buying, iron ore stocks at the ports, especially in East and North China, still piled up. Ship unloading picked up after weather turned better.
Looking at this week, according to SMM, a rise in operation rate and pig iron output will underpin iron ore concentrate demand somewhat. With more daily average delivery from the ports against high port arrivals, iron ore inventory at the ports may still hike this week.