After the Spring Festival, the port's iron ore inventory continued to decline. As of March 13, the total iron ore inventory of 45 domestic ports was 119 million tons, down for five consecutive weeks, setting a new low since late September last year, only 5 million tons higher than that of nearly four years in July last year. In addition, the sinter inventory of 64 sample steel plants is 15.37 million tons, an increase of 270000 tons compared with the previous week, but it is also at a historical low.
"After the festival, the supply and demand of iron ore declined both, and the decline in supply was greater than the decline in demand, so that the steel plant inventory and port inventory contracted, and the accumulated inventory was expected to be falsified. In February, the trend of iron ore was more a restorative recovery of the deep decline after the festival."