According to Xinhua-China iron ore price index, the domestic imported iron ore stockpiles in Chinese 25 main ports reached 96.16 million metric tons on April 9, decreasing by 1.05 million metric tons compared to previous week. At the same time, the price index for imported 63.5% iron ore was roughly 150, up one unit from prior week. Meanwhile, the prices for 58% iron ore also rose by one unit from previous week to 128.
Given to the seasonal market demand is set to be released in the near future, we anticipate that the iron ore imports will emerge a bullish trend in April.