As of September 23, inventory of iron ore at 25 major Chinese ports amounted to 73.328 million mt, indicating an decrease of 990,000 mt or 1.33 percent week on week, as announced by China's Xinhua News Agency.
As of the given date, the Xinhua-China Iron Ore Price Index for imported iron ore with 62 percent iron content was at 132 points, down three points compared to one week earlier. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 121 points on the given date, down four points week on week.
In the given week, due to the Chinese Mid-Autumn Festival and against the background of the US Federal Reserve's decision on monetary policy, activity in the Chinese domestic iron ore spot market was still stagnant, while quotations and offers decreased. Buyers have been showing little interest in current prices.