As of April 21, inventory of iron ore at 33 major Chinese ports amounted to 108.41 million mt, indicating a decrease of 520,000 mt or 0.48 percent week on week, 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 115 points, down one point from one week earlier. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 104 points on the date in question, also down one point week on week.
During the given week, transaction activity of imported iron ore in China remained at a poor level. At the beginning of the week, prices of Chinese iron ore increased slightly, pushing up imported iron ore prices. In the latter days, traders acted unwilling to follow the rising trend of iron ore futures prices, and the transac,ton activity at ports moved down, dragging down the iron ore prices on spot market. It is estimated that imported iron ore prices in China will move sideways in the following period.
