On February 14, inventory of iron ore at 33 major Chinese ports amounted to 149.74 million mt, up 0.68 percent compared to February 7, as announced by China's Xinhua News Agency.
During the given week, import iron ore prices declined following big rises in the previous week. However, several government departments in China have jointly issued a notice stating that they will closely monitor abnormal movements in the iron ore market, which has exerted a negative impact on ore prices. It is expected that iron ore prices may soften further in the coming week.