Port Inventory and Port Pick-Up Volume of Iron Ore on July 4

As of July 4, SMM data showed that the total inventory of iron ore at 35 ports nationwide reached 137.13 million mt, an increase of 210,000 mt WoW. The daily average port pick-up volume of imported ore was 3.015 million mt, a decrease of 45,000 mt compared to the previous week. Recently, the port arrivals of iron ore have shown a trend of increasing slightly. According to SMM's tracking data, pig iron production of steel mill blast furnaces has declined, leading to a slowdown in port cargo pick-up speed. Overall, the inventory has shown a slight accumulation. Looking ahead to next week, it is expected that port arrivals will continue to increase. However, on the demand side, pig iron production of blast furnaces may continue to decline, leading to a decrease in port pick-up volume. Therefore, port inventory is expected to continue to accumulate slightly.