As of April 9, inventory of iron ore at 33 major Chinese ports amounted to 136.77 million mt, up 0.31 percent compared to the inventory levels recorded on April 2, 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 63 points, remaining stable compared to April 2. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 53 points on the date in question, also remaining stable over the same period.
Currently, the supply and demand situation for import iron ore in China has not shown any improvement. Meanwhile, in northern China, production restrictions are still in effect for most steelmakers’ blast furnaces, which will exert a negative impact on demand for import iron ore. At the same time, Chinese steelmakers’ inventories of import iron ore are sufficient, which will limit their purchasing activities. It is thought that import iron ore prices will come under downward pressure in the coming period.