On January 25, inventory of iron ore at 33 major Chinese ports amounted to 106.76 million mt, down 140,000 mt or 0.13 percent compared to January 18, as announced by China's Xinhua News Agency.
During the given week, import iron ore prices in China edged down slightly from recent highs, impacted by firm supply and demand concerns. Chinese steel mills have issued plans for maintenance works amid decreasing profitability. Most steelmakers have completed more than half of their iron ore replenishments for winter, which will exert a negative impact on demand for iron ore in the short term. It is expected that import iron ore prices in the Chinese domestic market will likely move down in the coming week.