On August 22, inventory of iron ore at 33 major Chinese ports amounted to 129.057 million mt, up 0.04 percent compared to August 15, as announced by China's Xinhua News Agency.
In the given week, import iron ore prices moved down amid the decreasing iron ore futures prices at Dalian Commodity Exchange (DCE).
In the given week, deliveries of iron ore to users decreased, while iron ore volumes arriving at Chinese ports also declined.
Capacity utilization rates of blast furnaces in China continued the rising trend as production outputs of rebar and wire rod increased, thereby steelmakers have been willing to build up stock for iron ore, while the increasing inventory level may weaken the support to its prices. It is thought that import iron ore prices may fluctuate within a limited range in the coming week.
