As of June 16, inventory of
iron ore at 33 major Chinese ports amounted to 115.67 million mt, up 1.07 million mt or 0.93 percent compared to the inventory level recorded on June 16, as announced by
China's Xinhua News Agency on June 24.
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 one point from one week earlier. Meanwhile, the Xinhua-
China Iron Ore Price Index for imported
iron ore with 58 percent iron content was at 75 points on the date in question, up two points week on week.
During the given week, the Xinhua-
China Iron Ore Price Index for imported
iron ore with 62 percent iron content first declined to a record low of 90 but then started to move back up. Meanwhile, bullish sentiment now prevails in the
iron ore futures market following the declines already witnessed. It is thought that
iron ore prices in the Chinese market will likely see an overall gradual rising trend, though the upward movement will be limited by slack demand.