As of March 21, inventory of iron ore at 33 major Chinese ports amounted to 92.24 million mt, up 510,000 mt or 0.56 percent compared to the inventory level recorded on March 14, 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, remaining stable week on week. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 52 points on the date in question, also remaining stable week on week.
In the given week, overall imported iron ore prices in China rebounded a little after initial declines. At the start of the given week, amid fluctuations in the finished steel markets, imported iron ore prices in China indicated a declining trend and overall transaction activities were at low levels in the spot market. However, towards the end of the week, imported iron ore prices started to rebound due to support from the iron ore futures market, though some buyers still held a cautious view of the future prospects for the iron ore spot market.