iron Ore Arriving at Ports Decreased and the Output of Pig Iron may Fall Significantly

SHANGHAI, May 11 (SMM) - In terms of fundamentals, the amount of iron ore arriving at ports decreased and the output of pig iron may fall significantly amid the weak profits. Steel mills will extend the production cut and maintain low raw material stocks given the weak terminal demand and the pressure on cash flow. Considering the gradual recovery of overseas shipments and the expectations for sharp decline in domestic pig iron output, the inventory across 35 ports are expected to increase in May.