As of August 14, inventory of iron ore at 33 major Chinese ports amounted to 116.95 million mt, down 1.31 million mt or 1.11 percent compared to the inventory level recorded on August 7, 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 75 points, up two points compared to August 7. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 63 points on the date in question, up one point over the same period.
During the given week, import iron ore prices indicated a rising trend. Inquiries for import iron ore increased and so traders sought to raise their offer prices for import iron ore. However, following the price rises, buyers have been cautious about concluding purchases. It is thought that import iron ore in the Chinese market are unlikely to continue their rising trend in the coming week.