China Iron Ore Port Inventory Declines to 143.91 Million mt; Daily Pick-up Volume Rises to 3.145 Million mt as of September 4, 2026
Key Takeaways
- •Total iron ore inventory at China's 35 main ports stood at 143.91 million mt as of September 4, down 1.7 million mt from the previous month.
- •Daily average port pick-up volume increased by 55,000 mt to 3.145 million mt.
- •Hot metal production at blast furnaces continued to decline, reflecting soft finished steel demand and thin mill margins.
- •Port arrivals are expected to fall next week and some steel mills plan to resume production, which may lift hot metal output and pick-up volumes.
- •If downstream restocking remains limited, port inventory could accumulate again despite near-term improvements.
The latest data from SMM shows that, as of September 4, total iron ore inventory across China's 35 main ports stood at 143.91 million mt, a decline of 1.7 million mt month-on-month, with overall inventory trending lower. Daily average port pick-up volume edged up by 55,000 mt to 3.145 million mt. Port inventory and pick-up volumes are closely watched indicators of iron ore demand in China, the world's largest consumer of the steelmaking raw material, as they reflect how actively steel mills are drawing down seaborne supplies.
Iron ore port inventory had risen earlier in the week, mainly because port arrivals rebounded overall while demand remained weak. Hot metal production at steel mill blast furnaces continued to decline, purchase willingness for iron ore concentrates weakened, and port pick-up volume fell in tandem, highlighting inventory accumulation pressure under a loose supply-demand balance. The pullback in blast furnace output reflects broader weakness across China's steel sector, where producers have been contending with soft demand for finished steel and thin mill margins.
Looking ahead to next week, port arrivals are expected to decline on a phased basis. Meanwhile, some steel mills plan to resume production, hot metal production may briefly tick up, and port pick-up volume may edge up accordingly. However, downstream finished steel demand still faces uncertainty, and if restocking remains limited, port inventory may still face the possibility of accumulating again. Traders and analysts will be watching weekly inventory movements, hot metal output data, and signals of any production policy adjustments among Chinese steel mills for further direction on the supply-demand balance.
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and reliance on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.
Source: SMM via Hellenic Shipping News
