As of December 23, inventory of iron ore at 25 major Chinese ports amounted to 85.403 million mt, indicating an increase of 1.559 million mt or 1.86 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 133 points, down two points from one week earlier. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 120 points on the date in question, also falling two points week on week.
In the given week, slight decreases continued in Chinese imported iron ore market, while the buyers and sellers have kept a wait-and-see stance. The transaction activities have mostly been at a medium level. Influenced by the significant declines in iron ore futures prices, some downward movements were also observed in the spot market in the given week with minor changes due to the traders keeping their prices firm. Overall, in the coming week the Chinese imported iron ore market is expected to move on a stable trend on the whole with some slight fluctuations.
