As of November 14, inventory of iron ore at 33 major Chinese ports amounted to 99.55 million mt, down 390,000 mt or 0.4 percent compared to the inventory level recorded on November 7, as announced by China's Xinhua News Agency on November 15.
As of the same date, the Xinhua-China Iron Ore Price Index for imported iron ore with 62 percent iron content was at 80 points, up 15 points week on week. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 68 points on the date in question, up 12 points week on week.
In the given week, imported iron ore prices in China continued to indicate a rising trend due to continuous increases in iron ore futures prices. Meanwhile, buyers mostly maintained a cautious stance towards the iron ore market and overall transaction activity was at medium levels. At present, iron ore futures prices have continued to indicate some increases, which will provide support for iron ore prices in the spot market. It is thought that prices of imported iron ore in China will likely continue to indicate upward movement in the coming period.