Port Inventory and Port Pick-Up Volume of Iron Ore on April 18

As of April 18, SMM data showed that the total inventories of 35 ports were 137.84 million mt, a decrease of 2.78 million mt WoW. The daily average port pick-up volume of imported ore was 2.984 million mt, a decrease of 75,000 mt WoW. In terms of port arrivals, the number of ship arrivals decreased in the latter half of the week due to strong winds. According to the latest SMM tracking data, the increase in pig iron production from blast furnaces at steel mills slowed down, and most steel mills purchased as needed, leading to a slight decrease in port pick-up volume. Overall, port arrivals were significantly affected by the strong winds, and port inventories showed a downward trend. Looking ahead to next week, weather conditions are expected to improve, and port arrivals may return to normal, with a possibility of a slight increase in port inventories.