As of September 7, inventory of iron ore at 33 major Chinese ports amounted to 76.73 million mt, up 240,000 mt or 0.3 percent compared to the inventory level recorded on August 31, as announced by China's Xinhua News Agency on September 8.
As of the same date, the Xinhua-China Iron Ore Price Index for imported iron ore with 62 percent iron content was at 57 points, up one point week on week. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 51 points on the date in question, also up one point week on week.
In the given week, imported iron ore prices indicated a slight rising trend amid some decreases in supply in the iron ore market, though demand for imported iron ore slowed down slightly in the meantime. In addition, the iron ore futures market has indicated upward movement, which has also exerted a positive impact on imported iron ore prices in the spot market. After the recent military parade in Beijing, steel enterprises in northern China are now gradually resuming their production, which will increase demand for iron ore. It is thought that iron ore prices will likely follow a slight rising trend in the coming period.