As of April 4, inventory of iron ore at 33 major Chinese ports amounted to 93.77 million mt, up 1.46 million mt or 1.58 percent compared to the inventory level recorded on March 28, 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 55 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 49 points on the date in question, down one point week on week.
In the given week, imported iron ore prices in China indicated a net decline and transaction activities were at low levels. In the first part of the given week, imported iron ore prices indicated a slight uptrend due to increases in the finished steel market, while buyers mostly held a cautious stance towards the iron ore market. In the latter part of the given week, imported iron ore prices started to decline in the spot market due to the downtrend in iron ore futures prices.
At present, most steel enterprises are increasing their iron ore inventories due to traditional bulk purchases at the beginning of the month, which will likely provide some support for iron ore prices. It is thought that imported iron ore prices in China will likely indicate some slight fluctuations in the coming period.