As of July 4, inventory of iron ore at 33 major Chinese ports amounted to 95.74 million mt, up 1.89 million mt or 2.01 percent compared to the inventory level recorded on June 27, 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 54 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 43 points on the date in question, also up three points week on week.
In the given week, imported iron ore prices in China indicated an upward movement due to the rising trend of finished steel prices and increases in iron ore futures prices. At present, iron ore futures prices continued to move on an uptrend, which will likely provide some support for iron ore prices in the spot market. It is thought that imported iron ore prices in China will likely follow a slight rising trend in the coming period.