As of May 2, inventory of iron ore at 33 major Chinese ports amounted to 92.88 million mt, down 260,000 mt or 0.28 percent compared to the inventory level recorded on April 25, 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 65 points, remaining stable week on week. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 57 points on the date in question, also remaining stable week on week.
In the given week, imported iron ore prices in China indicated a declining trend due to decreases in domestic finished steel prices. At present, iron ore futures prices and finished steel futures prices have started to indicate fluctuations, thereby exerting some pressure on the iron ore spot market. It is thought that imported iron ore prices in China will likely indicate some slight fluctuations in the coming period.