Iron ore inventory increases at Chinese ports

Wednesday, 20 July 2016 11:20:46 (GMT+3)   |   Shanghai
       

As of July 18, inventory of iron ore at 33 major Chinese ports amounted to 100.29 million mt, up 3.56 million mt or 3.68 percent compared to the inventory level recorded on July 11, 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 59 points, up five points week on week. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 50 points on the date in question, up four points week on week. 

In the first part of the given week, imported iron ore prices in China continued to indicate a rising trend due to significant increases in iron ore futures prices and so overall transaction activity was at decent levels. However, in the latter part of the week, imported iron ore prices softened a little and traders mostly maintained a wait-and-see stance towards the iron ore market amid the declining trend of finished steel prices.

Currently, imported iron ore supplies are on the short side in the market and iron ore futures prices are moving on an upward trend, exerting a positive impact on iron ore prices. It is thought that imported iron ore prices in China will likely move sideways in the coming period.

Similar articles

Iron ore prices edge up week on week, further movement awaited after May Day holiday

25 Apr | Scrap & Raw Materials

Major steel and raw material futures prices in China – Apr 25, 2024 

25 Apr | Longs and Billet

Fortescue posts record monthly iron ore shipments in March

25 Apr | Steel News

Daily iron ore prices CFR China - April 24, 2024

24 Apr | Scrap & Raw Materials

Anglo American’s iron ore output up 9.4 percent in Q1

24 Apr | Steel News

Ferrexpo records best quarterly performance since invasion of Ukraine

24 Apr | Steel News

Major steel and raw material futures prices in China – Apr 24, 2024 

24 Apr | Longs and Billet

Brazilian high-grade iron ore price declines week-on-week

23 Apr | Scrap & Raw Materials

Canadian iron ore production down 1.0 percent in February

23 Apr | Steel News

Daily iron ore prices CFR China - April 23, 2024

23 Apr | Scrap & Raw Materials