As of November 13, inventory of iron ore at 33 major Chinese ports amounted to 118.25 million mt, up 1.30 million mt or 1.11 percent compared to the inventory level recorded on November 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 62 points, remaining stable compared to November 6. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 52 points on the date in question, also remaining stable over the same period.
During the given week, traders kept their import iron ore prices stable, even though Chinese steelmakers were seeking lower purchase prices for iron ore. Recently, some shortages of supply have been observed in the import iron ore market. It is thought that import iron ore prices in the Chinese market will likely move sideways in the coming week.