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Iron ore inventory at 10 major ports continued to fall, with the four major types of iron ore diverging

iconJul 5, 2024 22:38
Source:SMM
Iron ore inventory across the 10 major ports tracked by SMM decreased by 910,000 mt WoW this week.

Iron ore inventory across the 10 major ports tracked by SMM decreased by 910,000 mt WoW this week. Stocks of different types are as follows: fines (87.4 million mt, +510,000 mt), iron ore concentrates (10.26 million mt, -520,000 mt), lump (11.89 million mt, -590,000 mt), and pellet (4.63 million mt, -310,000 mt).

According to SMM, the current pig iron output still shows an upward trend, supporting the demand for iron ore. Lump, iron ore concentrates, and pellet inventory fell noticeably. Fines inventory continued to accumulate due to high port arrivals.

Looking ahead to next week, according to SMM, the blast furnace pig iron output shows a downward trend, which may weaken the demand for iron ore concentrates. Port arrivals are expected to remain high. Therefore, port inventory may continue to accumulate. Considering the differences in demand for various types of iron ore, their port inventories are expected to continue to diverge.

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