As of September 28, inventory of iron ore at 33 major Chinese ports amounted to 81.58 million mt, up 1.60 million mt or two percent compared to the inventory level recorded on September 21, as announced by China's Xinhua News Agency on September 29.
As of the same date, the Xinhua-China Iron Ore Price Index for imported iron ore with 62 percent iron content was at 57 points, down one point week on week. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 51 points on the date in question, down two points week on week.
In the given week, imported iron ore prices indicated a slight downtrend due to the increase in iron ore imports arriving at Chinese ports. In addition, due to the ongoing declines in the iron ore futures market, buyers in the spot market have mostly been maintaining a wait-and-see stance towards high price offers and so overall iron ore import transaction activity has started to slow down. It is thought that imported iron ore prices will likely move a stable trend in the coming period.