Iron ore inventory decreases slightly at Chinese ports

Wednesday, 18 June 2014 12:10:35 (GMT+3)   |   Shanghai
       

As of June 16, inventory of iron ore at 33 major Chinese ports amounted to 114.60 million mt, down by just 0.11 million mt or 0.09 percent compared to the inventory level recorded on June 9, as announced by China's Xinhua News Agency on June 17.
 
As of the same date, the Xinhua-China Iron Ore Price Index for imported iron ore with 62 percent iron content was at 91 points, down three points from one week earlier. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 73 points on the date in question, down four points week on week.
 
During the given week, imported iron ore prices in China continued to decrease amid poor transaction activity. Against a backdrop of declining iron ore futures prices, iron ore prices at Chinese ports have fallen to their lowest levels of the current year. Although prices of domestic production iron ore have also declined, their downward movement has been slower, with most producers maintaining a wait-and-see stance as regards purchases of domestic ore. In general, steelmakers are unwilling to replenish inventories due to tightness of liquidity. It is expected that imported iron ore prices in China will decline at a slower pace in the short term. 

Similar articles

ArcelorMittal sees lower net profit and sales revenues in Q1

02 May | Steel News

Daily iron ore prices CFR China - April 30, 2024

30 Apr | Scrap & Raw Materials

Raw Material Suppliers at IREPAS: General market mood hopeful for improvement

30 Apr | Steel News

Daily iron ore prices CFR China - April 29, 2024

29 Apr | Scrap & Raw Materials

India’s SMIOL to ramp up manganese and iron ore mining capacities

29 Apr | Steel News

India’s NMDC hikes prices of iron ore lumps and fines with immediate effect

29 Apr | Scrap & Raw Materials

Brazilian high-grade iron price increases

26 Apr | Scrap & Raw Materials

Daily iron ore prices CFR China - April 26, 2024

26 Apr | Scrap & Raw Materials

Major steel and raw material futures prices in China - Apr 26, 2024

26 Apr | Longs and Billet

Kumba Iron Ore’s output and sales down in Q1

26 Apr | Steel News