As of August 13, inventory of iron ore at 33 major Chinese ports amounted to 131.28 million mt, down 0.78 percent compared to the inventory levels recorded on August 6, 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 68 points, down two points compared to August 6. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 56 points on the date in question, down one point over the same period.
During the given week, due to strict environmental protection measures for the defense of the Blue Sky, there was a supply shortage in the finished steel market, which provided support for finished steel prices. Meanwhile, high temperature and rainy weather have negatively affected the steel production, also bolstering finished steel prices. However, the Sino-US trade friction will exert an uncertain impact on finished steel market, which will also affect the demand for import iron ore. It is thought that import iron ore prices in the Chinese market will move sideways in the coming week.