On July 13, inventory of iron ore at 33 major Chinese ports amounted to 91.9 million mt, up 0.62 million mt or 0.68 percent compared to July 6, as announced by China's Xinhua News Agency.
Over the past week, import iron ore prices in China have edged up significantly amid sufficient funds pushing up metal prices in the global market and healthy demand. Meanwhile, shipments from miners have increased, while volumes arriving at Chinese ports have also increased.
The capacity utilization rate of blast furnaces in China has edged down compared to the previous week amid production halts in some regions. However, the inventory of iron ore on the steelmakers’ side and at ports is at relatively low levels, which will positively influence iron ore prices in the coming period.