As of June 20, inventory of iron ore at 33 major Chinese ports amounted to 93.03 million mt, down 2.48 million mt or 2.6 percent compared to the inventory level recorded on June 13, as announced by China's Xinhua News Agency.
As of the same date, the Xinhua-China Iron Ore Price Index for imported iron ore with 62 percent iron content was at 51 points, down one point week on week. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 43 points on the date in question, also down one point week on week.
In the given week, imported iron ore prices in China indicated fluctuations. In the first part of the given week, imported iron ore prices moved on a declining trend due to decreases in finished steel prices and production restrictions in China’s Hebei Province which reduced demand for iron ore in the spot market. However, in the latter part of the given week imported iron ore prices started to rise in the spot market due to the upward trend of iron ore futures prices, while overall transaction activity in the spot market remained at low levels.