According to Xinhua-China iron ore price index, the domestic imported iron ore stockpiles in Chinese 25 main ports reached 97.72 million metric tons on March 26, decreasing by 0.58 million metric tons compared to previous week. At the same time, the price index for imported 63.5% iron ore was roughly 149, unchanged from prior week. Meanwhile, the prices for 58% iron ore rose by one unit from previous week to 127.
Accordingly, owing to the current domestic steel demands have not been released completely, both of the iron ore suppliers and users are holding an attitude of wait-and-see towards the market prospect. Hence, at this special period, we thought that the prices for imported iron ore will not swing substantially in the short run.