China: Iron Ore Port Inventory and Port Pick-up Volume on October 30, 2026

As of October 30, the latest SMM statistics show that iron ore inventory across 35 main ports in China totaled 148.05 million mt, up 300,000 mt MoM. Overall inventory showed a slight accumulation trend, while daily average port pick-up volume edged down 35,000 mt to 3.175 million mt.

This week, iron ore port arrivals increased notably, while hot metal production of steel mill blast furnaces declined. Combined with cautious downstream procurement and a downtrend in port pick-up volume, supply-demand conditions weakened marginally, leading to slight accumulation in overall port inventory. Looking ahead to next week, steel mill demand is expected to remain weak, hot metal production may continue to decline, and port pick-up volume is unlikely to improve significantly. Port inventory is expected to maintain its accumulation trend, with short-term inventory pressure likely to rise further. Attention should be paid to the impact of steel mill profits and finished steel demand changes on the pace of hot metal production resumptions.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM’s internal database model. They are for reference only and do not constitute decision-making recommendations. Source: SMM

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