As of August 18, inventory of iron ore at 33 major Chinese ports amounted to 108.8 million mt, down 0.47 million mt or 0.43 percent compared to the inventory level recorded on August 11, as announced by China's Xinhua News Agency on August 19.
As of the same date, the Xinhua-China Iron Ore Price Index for imported iron ore with 62 percent iron content was at 93 points, down one point week on week. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 80 points on the date in question, remaining unchanged compared with last week.
During the given week, imported iron ore prices in China have seen slight declines. Currently, imported iron ore materials are plentiful at Chinese domestic ports, with prices comparatively low. Iron ore futures prices have also indicated a decreasing trend, exerting a negative influence on the spot market. Some traders have lowered their sales prices. It is expected that imported iron ore prices will move on a slight downtrend in the coming week.
