According to SMM research, as of the 12th of March, total iron ore inventories across the 10 major ports surveyed stood at 118.99 million tonnes, an increase of 1.08 million tonnes compared to the previous week. Within this total, inventories of coarse fines and lump ore saw a marginal decrease, while stocks of concentrate and pellets continued to accumulate.

As survey conducted by SMM on the 6th of March, total iron ore inventories across 10 major ports stood at 117.91 million tonnes, representing a week-on-week decrease of 960,000 tonnes. This overall reduction was led by a slight destocking of coarse fines and lump ore, while inventories of concentrate and pellets experienced a minor accumulation.

According to an SMM survey dated 26th February, total iron ore inventories across the 10 major ports monitored by SMM reached 118.87 million tonnes, marking an increase of 2.13 million tonnes from the pre-holiday level. A divergence in stock levels was observed among the four main product categories: inventories of coarse fines and lump ore recorded a slight accumulation, whereas stocks of concentrate and pellets experienced a minor destocking.

Iron ore futures generally weakened today, with the most-traded contract I2605 finally settling at 762 yuan/mt, down slightly by 0.2% from the previous trading day. Spot prices were basically flat compared to the previous trading day. Traders showed mediocre enthusiasm in offering, while steel mills had limited inquiries. Overall market trading activity was dull and quiet. Key data on iron ore inventories at 10 major ports showed total inventory pulled back to 11.674 billion mt, a decrease of 1.05 million mt WoW. Behind this change was a steady rebound in daily average hot metal production, which drove the release of rigid demand and led to signs of destocking at major ports, indicating substantial improvement on the demand side for iron ore and forming relatively solid support for futures prices. However, as the Chinese New Year holiday approaches, market participants are taking holidays one after another, leading to a noticeable decline in market activity. Moreover, the dual-high pattern of port inventory and in-factory inventory at steel mills continues to exert significant pressure on the upside room for iron ore. The improvement in demand is expected to take some time before being reflected in prices. Therefore, iron ore prices are projected to continue moving sideways in the short term. [SMM Steel]

As of January 3, according to SMM monitoring, the total iron ore inventory at 35 ports reached 145.22 million mt, up 240,000 mt WoW and up 25.92 million mt YoY.

As of September 13, the total inventory at 35 ports monitored by SMM reached 150.72 million mt, unchanged WoW and up 35.3 million mt YoY.