Port Inventory and Port Pick-up Volume of Iron Ore on June 20

As of June 20, SMM data showed that the total inventory at 35 ports was 136.78 million mt, a decrease of 440,000 mt WoW. The daily average port pick-up volume of imported ore was 2.976 million mt, an increase of 67,000 mt WoW. In terms of port arrivals, due to reduced overseas shipments, the port arrivals this week showed a downward trend again. Demand side, pig iron production of steel mill blast furnaces remained at a high level recently, and the cost-effectiveness of imported iron ore was favorable. As a result, steel mills were generally more active in procurement, and the port pick-up volume showed an upward trend. Overall, the total port inventory showed a slight decreasing trend. Looking ahead to next week, due to the impact of overseas typhoons, it is expected to be difficult for port arrivals to increase. Additionally, with pig iron production of steel mill blast furnaces expected to rise, the port pick-up volume may continue to grow, and port inventory may further decrease.