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

Published: Jul 5, 2024 22:38

Source: SMM

Save

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.

Market forecast Market review

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

19 hours ago

Before the holiday, the black chain is unlikely to see a trend-driven market [SMM Steel Industry Chain Weekly Report].

This week, ferrous metals were in the doldrums, with coking coal and coke staging a mid-week rise. At the beginning of the week, financial markets experienced sharp fluctuations, dragging down sentiment in the ferrous chain and leading to a pullback in futures. Mid-week, Indonesia's cut to coke production quotas drove coking coal and coke futures to lead the gains, though the impact was more pronounced on thermal coal, while coking coal's rise was largely sentiment-driven and short-lived. In the latter part of the week, finished products continued their seasonal inventory buildup, and support from the raw material side weakened, causing the entire ferrous chain to pull back. In the spot market, with the Chinese New Year holiday approaching, purchasing activity slowed down further, with end-users only making limited, as-needed purchases at low prices.

19 hours ago

MMi Daily Iron Ore Report (February 6)

Today, the DCE iron ore futures continued to hit bottom today, with the most-traded contract I2605 closing at 760.5 yuan/mt, down 1.23% from the previous trading day. Spot prices fell by 5–10 yuan/mt compared to the previous trading day.

19 hours ago

20 hours ago

[SMM Chromium Daily Review] Inquiries and Transactions Weakened, Chromium Market Showed Mediocre Performance Before the Holiday

[SMM Chrome Daily Review: Trading and Inquiries Weakened, Chrome Market Showed Mediocre Performance Before the Holiday] February 6, 2026: Today, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,500-8,600 yuan/mt (50% metal content), flat MoM from the previous trading day...

20 hours ago