On February 21, inventory of iron ore at 33 major Chinese ports amounted to 150.24 million mt, up 0.34 percent compared to February 14, as announced by China's Xinhua News Agency.
During the given week, import iron ore prices declined sharply amid the rising iron ore volume arriving at ports. Meanwhile, Chinese steelmakers accelerated the resumption of production, resulting in increased steel output, which, however, failed to significantly boost demand for iron ore. It is thought that import iron ore prices may move sideways in the coming week.