As of April 10, inventory of iron ore at 33 major Chinese ports amounted to 121.47 million mt, up 1.27 million mt or 1.0 percent compared to the inventory level recorded on March 27, 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 77 points, down eight points week on week. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 65 points on the date in question, also decreasing by eight points week on week.
In the given week, iron ore prices in China indicated downward movement amid significant decreases in finished steel prices in the domestic market. As demand from downstream users is not expected to pick up, it is thought that prices of imported iron ore in China will likely move down further in the coming period.