As of October 21, inventory of iron ore at 25 major Chinese ports amounted to 75.299 million mt, indicating an increase of 459,000 mt or 0.61 percent week on week, as announced by China's Xinhua News Agency on October 22.
As of the given date, the Xinhua-China Iron Ore Price Index for imported iron ore with 62 percent iron content was at 135 points, up two points compared to one week earlier. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 123 points on October 21, up one point week on week.
As for the downstream side, due to sluggish demand from end-user companies, the Chinese steel market is currently characterized by soft prices as opposed to the stronger price trends observed in the same period in previous years.