As of October 28, inventory of iron ore at 25 major Chinese ports amounted to 76.534 million mt, indicating an increase of 1.235 million mt or 1.64 percent week on week, as announced by China's Xinhua News Agency.
As of the given date, the Xinhua-China Iron Ore Price Index for imported iron ore with 62 percent iron content was at 133 points, down two points compared to one week earlier. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 121 points on October 21, also down two points week on week.
Despite the slight decrease in the price of imported iron ore, the Chinese steel market will likely move on a stable trend in the short term due to shortages on the steel supply side.
Source:
http://www.steelorbis.com/steel-news/latest-news/iron-ore-inventory-at-chinese-ports-sees-increase-791801.htm
