As of April 23, inventory of iron ore at 33 major Chinese ports amounted to 133.10 million mt, up 0.32 percent compared to the inventory levels recorded on April 16, 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 67 points, up three points compared to April 16. 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, remaining stable over the same period.
During the given week, import iron ore supply in certain regions of China has been tight, providing some support for import iron ore prices. Recently, domestic finished steel prices have increased, while steelmakers have remained cautious about concluding purchases of iron ore. It is expected that import iron ore prices in China will likely move sideways in the coming week.