As of April 28, inventory of iron ore at 33 major Chinese ports amounted to 108.31 million mt, down 100,000 mt or 0.09 percent compared to the inventory level recorded on April 21, 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 111 points, down four points from one week earlier. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 99 points on the date in question, down five points week on week.
During the given week, prices of imported iron ore in the spot market and in the futures market indicated slight decreases, while transaction activity for imported iron ore was sluggish. The overseas mining giants are mostly supplying steelmakers who signed annual supply agreements with them, while small mining enterprises have been unwilling to sell due to the current low levels of market prices. It is expected that iron ore prices in China will move on a soft trend in the short term.
