As of February 20, inventory of iron ore at 33 major Chinese ports amounted to 113.42 million mt, down 120,000 mt or 0.11 percent compared to the inventory level recorded on February 13, 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 91 points, up four points week on week. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 79 points on the date in question, rising by two points week on week.
In the given week, imported iron ore prices in China indicated upward movement on the back of significant increases in finished steel prices in the domestic market. At present, sentiment among traders is mostly positive as regards the future prospects for the market and so they are reluctant to sell at low prices. It is thought that prices of imported iron ore in China will likely indicate a slight rising trend in the coming period.