As of April 17, inventory of iron ore at 33 major Chinese ports amounted to 120.49 million mt, down 0.98 million mt or 0.8 percent compared to the inventory level recorded on April 10, as announced by China's Xinhua News Agency.
As of the same date, the Xinhua-China Iron Ore Price Index for imported iron ore with 62 percent iron content was at 67 points, down 10 points week on week. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 55 points on the date in question, decreasing by 10 points week on week.
In the given week, iron ore prices in China continued their downward movement amid significant decreases in finished steel prices in the domestic market. As negative sentiment prevails in the market, it is thought that prices of imported iron ore in China will likely move down further in the coming period.