As of October 24, inventory of iron ore at 33 major Chinese ports amounted to 98.81 million mt, up 2.52 million mt or 2.62 percent compared to the inventory level recorded on October 17, as announced by China's Xinhua News Agency on October 25.
As of the same date, the Xinhua-China Iron Ore Price Index for imported iron ore with 62 percent iron content was at 58 points, up one point 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 up one point week on week.
In the given week, imported iron ore prices in China indicated a slight rising trend due to strong demand from downstream users, while overall transaction activity was at decent levels. At present, iron ore futures prices have continued to indicate some increases and market participants are mostly optimistic on the future prospects for the iron ore market. It is thought that prices of imported iron ore in China will likely continue to indicate a slight rising trend in the coming period.