As of September 12, inventory of iron ore at 33 major Chinese ports amounted to 97.68 million mt, down 1.61 million mt or 1.62 percent compared to the inventory level recorded on September 5, 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 58 points, down two points week on week. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 50 points on the date in question, remaining stable week on week.
In the given week, imported iron ore prices in China indicated slight fluctuations. In the first part of the given week, imported iron ore prices in China indicated a rising trend due to increases in finished steel prices and some steel enterprises’ replenishment requirements, thus overall transaction activity was at decent levels. While towards the latter part of the given week, imported iron ore prices indicated a declining trend due to decreases in iron ore futures prices, exerting negative pressure on iron ore prices in the spot market.