As of September 3, inventory of iron ore at 33 major Chinese ports amounted to 124.735 million mt, down 1.56 percent compared to the inventory levels recorded on August 27, 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 66 points, remaining stable compared to August 27. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 55 points on the date in question, up one point over the same period.
During the given week, finished steel prices have moved down, while import iron ore prices have fluctuated slightly. Demand for import iron ore has been slack. It is thought that import iron ore prices will likely move sideways in the coming week.