As of January 11, inventory of iron ore at 33 major Chinese ports amounted to 91.87 million mt, up 1.87 million mt or 2.08 percent compared to the inventory level recorded on January 4, as announced by China's Xinhua News Agency on January 12.
As of the same date, the Xinhua-China Iron Ore Price Index for imported iron ore with 62 percent iron content was at 41 points, down two points week on week. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 37 points on the date in question, also down two points week on week.
In the given week, imported iron ore prices in China indicated a slight declining trend against the backdrop of the downtrend of iron ore futures prices.
Currently, given the approach of China’s New Year holiday and output cuts by some steel enterprises, demand for iron ore will remain slack, which will exert negative pressure on iron ore prices. It is thought that imported iron ore prices in China will likely continue their downward trend in the coming period.