As of December 5, inventory of iron ore at 33 major Chinese ports amounted to 102.09 million mt, up 940,000 mt or 0.93 percent compared to the inventory level recorded on November 28, as announced by China's Xinhua News Agency on December 6.
As of the same date, the Xinhua-China Iron Ore Price Index for imported iron ore with 62 percent iron content was at 78 points, down two points week on week. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 68 points on the date in question, down one point week on week.
In the given week, imported iron ore prices in China first increased and then switched to a declining trend, with average imported iron ore prices indicating downward corrections on week-on-week basis by the end of the week. At present, sentiment as regards the prospects for the price trend is mostly pessimistic. Buyers are pushing for lower prices for imported iron ore, while traders are eager to sell. It is thought that prices of imported iron ore in China will likely indicate slight fluctuations in the coming period after the previous significant increases in prices.