Iron ore inventory decreases slightly at Chinese ports

Wednesday, 18 June 2014 12:10:35 (GMT+3)   |   Shanghai
       

As of June 16, inventory of iron ore at 33 major Chinese ports amounted to 114.60 million mt, down by just 0.11 million mt or 0.09 percent compared to the inventory level recorded on June 9, as announced by China's Xinhua News Agency on June 17.
 
As of the same date, the Xinhua-China Iron Ore Price Index for imported iron ore with 62 percent iron content was at 91 points, down three points from one week earlier. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 73 points on the date in question, down four points week on week.
 
During the given week, imported iron ore prices in China continued to decrease amid poor transaction activity. Against a backdrop of declining iron ore futures prices, iron ore prices at Chinese ports have fallen to their lowest levels of the current year. Although prices of domestic production iron ore have also declined, their downward movement has been slower, with most producers maintaining a wait-and-see stance as regards purchases of domestic ore. In general, steelmakers are unwilling to replenish inventories due to tightness of liquidity. It is expected that imported iron ore prices in China will decline at a slower pace in the short term. 

Similar articles

Daily iron ore prices CFR China - April 19, 2024

19 Apr | Scrap & Raw Materials

Vale's iron ore exports up 97.5 percent in January

19 Apr | Steel News

Major steel and raw material futures prices in China - April 19, 2024

19 Apr | Longs and Billet

Iron ore prices continue to rise, heading towards $120/mt CFR

18 Apr | Scrap & Raw Materials

India’s coking coal import traffic at ports up 10% in FY 2023-24

18 Apr | Steel News

BHP Billiton’s iron ore output down in Q3 FY 2023-24, metallurgical coal output forecast lowered

18 Apr | Steel News

China’s iron ore output increases by 15.3 percent in Q1

18 Apr | Steel News

Major steel and raw material futures prices in China - April 18, 2024

18 Apr | Longs and Billet

Brazilian high-grade iron ore price increases sharply week-on-week

17 Apr | Scrap & Raw Materials

Iron ore production increases at Vale in Q1

17 Apr | Steel News