SMM

As of April 18, SMM data showed that the total inventory at 35 ports was 137.84 million mt, a decrease of 2.78 million mt WoW. The daily average port pick-up volume of imported ore was 2.984 million mt, a decrease of 75,000 mt WoW. In terms of port arrivals, the number of ship arrivals decreased in the latter half of the week due to strong winds. According to the latest SMM tracking data, the increase in pig iron production at steel mill blast furnaces slowed down, with most steel mills purchasing as needed, leading to a slight decrease in port pick-up volume. Overall, port arrivals declined significantly due to the impact of strong winds, and port inventory showed a downward trend. Looking ahead to next week, weather conditions are expected to improve, port arrivals may return to normal, and port inventory is likely to increase slightly.