According to SMM survey, on 23 April, the total inventory across the 10 ports in China tracked by SMM stood at 114.32 million tonnes, marking a week-on-week decrease of 1.16 million tonnes. During this period, coarse fines, lump ore, and pellets experienced minor destocking, while concentrates saw a slight accumulation.

According to an SMM survey on April 2, total iron ore inventory across the 10 major ports tracked by SMM stood at 119.31 million tonnes, marking a week-on-week increase of 190,000 tonnes. Inventories of coarse fines and concentrates accumulated slightly, while lump ore and pellets experienced slight destocking.

This week, ferrous metals rebounded from the bottom. At the start of the week, coking coal and coke led the futures higher, mainly driven by rising crude oil prices in the overseas market, which pushed the energy and chemicals sector stronger accordingly; mid-week, both the U.S. and Iran signaled a more relaxed stance toward war, easing geopolitical tensions, while coal prices fell in tandem, weakening the cost-side logic, and ferrous metals fluctuated at highs; in the latter half of the week, worsening short-term liquidity issues in BHP's iron ore port inventory triggered stronger iron ore prices in the overseas market, while the Middle East situation remained volatile, reinforcing cost support and pushing ferrous metals higher again. In the spot market, supported by futures, end-user and arbitrage purchase sentiment both improved WoW this week......

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 decrease of 101,000 mt WoW. Recently, vessel congestion has been observed in some regions, leading to a slight decline in the 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.

As of May 23, according to SMM data, the total inventory at 35 ports was 137.73 million mt, a decrease of 1.67 million mt WoW. The daily average port pick-up volume of imported ore was 3.138 million mt, an increase of 43,000 mt WoW. Recently, the volume of port arrivals has shown a downward trend, but port cargo pick-up has improved. Pig iron production at blast furnaces in steel mills remains at a relatively high level, still providing certain support for the demand for iron ore concentrates. Therefore, the port pick-up volume has increased. Overall, port inventory has experienced destocking this week. Looking ahead to next week, it is expected that port arrivals will remain at a low level, and overall port inventory may continue to decrease.

As of April 25, SMM data showed that the total inventory of 35 ports was 139.94 million mt, an increase of 2.1 million mt WoW. The daily average port pick-up volume of imported ore was 3.15 million mt, up 165,000 mt WoW. On the port arrivals side, weather conditions improved, and arrivals remained at a high level. According to the latest SMM tracking data, pig iron production at steel mill blast furnaces continued to rise, driving port pick-up volume higher. Overall, due to the impact of high port arrivals, total port inventory was in an accumulation state. Looking ahead to next week, considering the impact of restocking before the Labour Day holiday, port pick-up volume may continue to rise, and port inventory may experience slight destocking.

Today, the most-traded iron ore futures contract moved downwards after a higher opening and fluctuated downward throughout the day. The most-traded I2505 contract closed at 757.5, with a daily decline of 0.33%. Traders' willingness to sell was relatively low; as the weekend approached, inquiries from steel mills decreased, and some mills purchased as needed; the market transaction atmosphere was quiet. Mainstream transaction prices fell by 2-5 yuan/mt compared to yesterday. As of March 21, recent continuous declines in ore prices have intensified bearish sentiment, and purchase willingness has declined. Looking ahead to next week, both supply and demand for iron ore are expected to increase, but support is limited. However, considering the relatively small imbalance in the industry recently, the market's reaction to production limits and tariffs has weakened, and it is expected that ore prices may rebound slightly after bottoming out next week.

As of March 21, SMM data showed that the total inventory at 35 ports was 141.44 million mt, up 270,000 mt WoW and up 1.75 million mt YoY. The daily average port pick-up volume of imported ore was 2.922 million mt, down 46,000 mt WoW and up 100,000 mt YoY. With the impact of previous adverse weather weakening, arrivals this period showed an increasing trend; on the port cargo pick-up side, steel mills were mainly purchasing as needed, leading to a slight decrease in pick-up volume, and overall port inventory showed a slight increase. Looking ahead to next week, it is expected that arrivals will continue to increase, and port inventory may continue to accumulate.

As of March 14, SMM data showed that the total inventory at 35 ports was 141.17 million mt, down 1.79 million mt WoW and up 2.03 million mt YoY. The daily average port pick-up volume of imported ore was 2.968 million mt, up 85,000 mt WoW and up 90,000 mt YoY. Port arrivals saw a significant decline this week.

As of March 7, SMM data showed that total inventory at 35 ports dropped to 142.97 million mt, down 5.19 million mt WoW but up 4.91 million mt YoY. The daily average port pick-up volume of imported ore was 2.883 million mt, up 8,000 mt WoW and 50,000 mt YoY. Port arrivals saw a slight decline this week. Coupled with severe port congestion in northern regions due to weather impacts, unloading efficiency decreased. Meanwhile, increased restocking by steel mills at low levels drove port pick-up volume higher. As a result, port inventory of iron ore saw significant destocking this week. Looking ahead to next week, with the conclusion of the Two Sessions, more blast furnaces at steel mills are expected to resume production, leading to higher procurement volumes and further increases in port pick-up volumes. However, with previous shipments at low levels, port arrivals are expected to remain low, and port inventory is likely to continue destocking.