As of March 31, inventory of
iron ore at 25 major Chinese ports amounted to 107.034 million mt, indicating an increase of 1.174 million mt or 1.11 percent week on week, 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 111 points, up two points from one week earlier. Meanwhile, the Xinhua-
China Iron Ore Price Index for imported
iron ore with 58 percent iron content was at 100 points on the date in question, up three points week on week.
In the given week, prices of imported
iron ore indicated slight rises, while transaction activity also witnessed some improvement. Due to upticks in finished steel prices and
iron ore futures prices, the volumes of inquiries and offers at Chinese ports increased significantly, pushing up prices of imported
iron ore. Meanwhile, steelmakers were seeking to make purchases and traders were more active in concluding deals. It is expected that the prices of imported
iron ore in
China will remain on an upward trend in the short term.