As of March 11, inventory of iron ore at 25 major Chinese ports amounted to 76.38 million mt, down 490,000 mt or 0.64 percent on week-on-week basis, as announced by China’s Xinhua News Agency.
As of March 11, the Xinhua-China Iron Ore Price Index for imported iron ore with 63.5 percent iron content was at 145 points, down six points week on week, Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 126 points on the given date, also down six points week on week.
Economists from Xinhua News Agency state that Chinese iron ore import prices have failed to maintain their strength due to weak demand on the downstream side. Meanwhile, the Chinese domestic steel market is still in a phase of adjustment.