As of September 5, inventory of iron ore at 33 major Chinese ports amounted to 99.29 million mt, down 1.89 million mt or 1.87 percent compared to the inventory level recorded on August 29, 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 60 points, remaining stable week on week. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 50 points on the date in question, also remaining stable week on week.
In the given week, imported iron ore prices in China indicated a declining trend amid negative pressure from decreases in finished steel prices. Most finished steel buyers in China are pushing for further reductions in steel prices. It is thought that prices of imported iron ore in China will likely indicate some fluctuations in the coming period.