As of June 13, inventory of iron ore at 33 major Chinese ports amounted to 95.51 million mt, down 20,000 mt or remaining basically stable compared to the inventory level recorded on June 6, 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 52 points, up three points week on week. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 44 points on the date in question, also up three points week on week.
In the given week, imported iron ore prices in China rebounded a little due to slight increases in finished steel prices and iron ore futures prices, while overall transaction activity was still at low levels and buyers mostly maintained a wait-and-see stance towards the iron ore market.
Currently, restrictions on steel production have been initiated due to the Tangshan International Horticulture Exposition (April 29-October 16), which is expected to negatively impact demand in the iron ore market. It is thought that imported iron ore prices in China will likely follow a stable trend in the coming period.