On September 12, inventory of iron ore at 33 major Chinese ports amounted to 126.4698 million mt, down 3.35 percent compared to September 5, as announced by China's Xinhua News Agency.
In the given week, import iron ore prices moved up amid the rising iron ore futures prices at Dalian Commodity Exchange (DCE).
In the given week, deliveries of iron ore to users increased slightly, while iron ore volumes arriving at Chinese ports decreased sharply amid the typhoon Muifa’s impact.
Capacity utilization rates of blast furnaces in China and steel outputs increased, bolstering the demand for import iron ore.
It is expected that import iron ore prices will likely move up in the coming week.