As of December 11, inventory of iron ore at 33 major Chinese ports amounted to 120.33 million mt, up 870,000 mt or 0.73 percent compared to the inventory level recorded on December 4, 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 70 points, remaining stable compared to December 4. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 56 points on the date in question, also remaining stable over the same period.
During the given week, import iron ore prices first moved up with support from the rising trends of semi-finished steel and finished steel prices. However, iron ore futures prices then declined at Dalian Commodity Exchange (DCE), exerting a negative impact on import iron ore prices. Currently, demand for iron ore imports in China is stable. It is thought that import iron ore prices in the Chinese market will move sideways in the coming week.