Significant reduction in port arrivals, iron ore stocks across 35 Chinese ports declined

Published: Sep 23, 2024 11:25

Source: SMM

Save

As of September 20, the total inventory at the 35 ports monitored by SMM reached 150 million mt, down 720,000 mt WoW and up 37.46 million mt YoY.

As of September 20, the total inventory at the 35 ports monitored by SMM reached 150 million mt, down 720,000 mt WoW and up 37.46 million mt YoY. The daily average port pick-up volume of imported ore was 2.931 million mt, down 102,000 mt WoW and down 350,000 mt YoY. Due to the impact of the typhoon, the arrival volume significantly decreased two weeks ago; on the port cargo pick-up side, steel mills continued to restock as needed, leading to a slight decline in port pick-up volume. Overall, due to the significant decrease in arrival volume, port inventory showed a destocking trend.

Looking ahead to this week, the arrival volume is expected to continue to decline due to typhoon. As the National Day holiday approaches, steel mills may conduct some restocking operations, leading to a slight increase in port pick-up volume, while port inventory is expected to continue the destocking trend.

Inventory

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

5 hours ago

[SMM Steel] Tata Steel partners with USTB to accelerate low-carbon steelmaking

[SMM Steel] Tata Steel has signed a Memorandum of Understanding (MoU) with the University of Science and Technology Beijing (USTB) to co-develop scalable low-carbon steelmaking technologies. The collaboration focuses on four strategic areas: scrap-based steelmaking, steel waste valorization, carbon capture and utilization (CCUS), and end-product performance. By leveraging USTB’s pilot-scale facilities and Tata Steel’s engineering strengths, the partnership aims to accelerate the transition of sustainable metallurgical research into practical industrial applications.

5 hours ago

[SMM Hot-Rolled Coil Arrivals] Arrivals in Mainstream Markets Increased Slightly WoW This Week

SMM Steel, February 24 – According to SMM statistics, the estimated total shipments to mainstream markets this week reached 302,700 mt, up 50.90% WoW. By market:

5 hours ago

[SMM Zhangjiagang Hot-Rolled Coil Inventory] Zhangjiagang Inventory Turned Lower WoW This Week

Zhangjiagang hot-rolled coil inventory stood at 311,000 mt this week, down 4,000 mt WoW, a decline of 1.27; the YoY decline was 27.34 on a calendar basis and 31.50 on a lunar calendar basis.

5 hours ago