As of June 30, inventory of
iron ore at 33 major Chinese ports amounted to 114.64 million mt, down 1.03 million mt or 0.89 percent compared to the inventory level recorded on June 23, as announced by
China's Xinhua News Agency on July 1.
As of the same date, the Xinhua-
China Iron Ore Price Index for imported
iron ore with 62 percent iron content was at 95 points, up 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 78 points on the date in question, also up three points week on week.
During the given week, transaction activity for
iron ore has seen a certain improvement. In addition, the rising trend in
iron ore futures prices has also contributed to rises in imported
iron ore prices at Chinese ports and so traders have increased their
iron ore offer prices. However, Chinese domestic production
iron ore prices have been at low levels as some Chinese
iron ore producers tried to improve transaction activity by reducing prices. It is expected that imported
iron ore prices in the Chinese market will move on a slight uptrend in the coming week.