Port Inventory and Port Pick-up Volume of Iron Ore on July 11

As of July 11, SMM data showed that the total inventory of iron ore at 35 ports nationwide was 136.16 million mt, a decrease of 970,000 mt WoW. The daily average port pick-up volume of imported ore was 2.992 million mt, a decrease of 23,000 mt WoW. During this week, iron ore shipments declined significantly. Although the equipment at Peruvian ports has returned to normal, shipments have not yet rebounded, and port arrivals have also decreased. In terms of port cargo pick-up, the decline in pig iron production this week led to a slight drop in port pick-up volume. Overall, due to the decrease in port arrivals, port inventory showed a downward trend. Looking ahead to next week, it is expected that both shipments and port arrivals will increase, and overall port inventory may accumulate slightly.