Iron ore inventory edges down at Chinese ports

Wednesday, 25 November 2015 10:16:14 (GMT+3)   |   Shanghai
       

As of November 23, inventory of iron ore at 33 major Chinese ports amounted to 83.42 million mt, down 610,000 mt or 0.81 percent compared to the inventory level recorded on November 16, as announced by China's Xinhua News Agency on November 24.

As of the same date, the Xinhua-China Iron Ore Price Index for imported iron ore with 62 percent iron content was at 45 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 41 points on the date in question, also down two points week on week.

In the given week, imported iron ore prices indicated a significant decline against the backdrop of the continuous downtrend of iron ore futures prices. Currently, since sluggishness still prevails in China’s domestic finished steel market, it is thought that imported iron ore prices in China will likely continue their downward trend in the coming period.

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