As of April 18, inventory of iron ore at 33 major Chinese ports amounted to 92.62 million mt, down 1.70 million mt or 1.8 percent compared to the inventory level recorded on April 11, 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 57 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 51 points on the date in question, also up three points week on week.
In the given week, imported iron ore prices in China indicated a rising trend and transaction activity in the overall market was at decent levels. However, towards the end of the week, iron ore futures prices indicated a declining trend due to decreases in finished steel prices and so buyers mostly held a wait-and-see stance towards the iron ore market.