On March 7, inventory of iron ore at 33 major Chinese ports amounted to 148.04 million mt, down 0.35 percent compared to February 28, as announced by China's Xinhua News Agency.
During the given week, import iron ore prices moved up sharply amid the declining iron ore volumes arriving at Chinese ports and the increased deliveries of iron ore to end-users.
Currently, steelmakers’ capacity utilization rates and outputs have increased, bolstering demand for import iron ore. At the same time, market players are worried about the supply of iron ore given the turbulent international situation, and this has also pushed up iron ore prices. It is expected that import iron ore prices will increase in the coming week.
