As of July 2, inventory of iron ore at 33 major Chinese ports amounted to 131.87 million mt, up 0.11 percent compared to the inventory levels recorded on June 25, 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 64 points, remaining stable compared to June 25. 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, import iron ore prices in China edged down slightly, while transaction activity has been quiet. Some traders chose to lower their prices for import iron ore in order to bring in cash. It is expected that import iron ore prices in the Chinese market will move sideways in the coming week.