SMM

As of June 6, SMM data showed that the total inventory at 35 ports was 136.09 million mt, a decrease of 150,000 mt WoW. The daily average imported ore port pick-up volume was 3.016 million mt, a decline of 101,000 mt WoW. Recently, vessel congestion has been observed in some regions, leading to a slight decrease in overall imported ore port arrivals and a gradual reduction in port inventory. Looking ahead to next week, it is expected that port arrivals will gradually return to normal. Additionally, with a slight downward trend in pig iron production of steel mill blast furnaces, the port pick-up volume may continue to decline, and there is a possibility of a slight increase in overall port inventory.