On October 19, inventory of iron ore at 33 major Chinese ports amounted to 106.29 million mt, up 2.12 million mt or 2.04 percent compared to October 14, as announced by China's Xinhua News Agency.
During the given period, import iron ore prices in China moved on a declining trend amid stable supply, lack of strength of demand, and weaker futures prices. Meanwhile, capacity utilization rates of Chinese steelmakers’ blast furnaces edged down amid the strict production restriction policy in northern China. However, over the past two days as of October 22, prices have revived slightly, coming to a little above $120/mt CFR.