As of October 25, iron ore inventory at 35 ports monitored by SMM was 149.33 million mt, down 400,000 mt WoW, up 43.58 million mt YoY. The daily average port pick-up volume of imported ore was 3.102 million mt, down 42,000 mt WoW, up 270,000 mt YoY. Recently, the arrival volume slightly declined. Due to the lower-than-expected restocking pace of steel mills, the port pick-up volume slightly decreased. Overall, the port inventory showed a slight destocking state. Looking into this week, considering the previous high shipment levels, the port inventory is expected to experience another inventory buildup.
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