As of March 20, inventory of iron ore at 33 major Chinese ports amounted to 118.3 million mt, up 1.13 million mt or 0.96 percent compared to the inventory level recorded on March 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 92 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 80 points on the date in question, rising by three points week on week.
In the given week, iron ore prices in China indicated upward movement on the back of increases in finished steel prices in the domestic market. At present, sentiment among iron ore traders remains positive as regards the future prospects for the market. It is thought that prices of imported iron ore in China will likely indicate a slight rising trend in the coming period.