Iron ore inventory increases at Chinese ports

Thursday, 29 June 2017 09:56:50 (GMT+3)   |   Shanghai
       

As of June 26, inventory of iron ore at 33 major Chinese ports amounted to 119.96 million mt, up 1.42 million mt or 1.2 percent compared to the inventory level recorded on June 19, 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 56 points, up one point compared to June 19. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 46 points on the date in question, also up one point over the same period.

During the given week, import iron ore prices have moved within a limited range, while transaction activity has been at low levels. Recently, finished steel prices in the Chinese domestic market have moved sideways, while iron ore inventory levels on the steelmakers’ side have been at medium-to-high levels, and so steelmakers have been unwilling to conclude purchases. 


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