According to Xinhua-China iron ore price index, the domestic imported iron ore stockpiles in Chinese 25 main ports reached 96.29 million metric tons on April 16, increasing by 0.13 million metric tons compared to previous week. At the same time, the price index for imported 63.5% iron ore was roughly 152, up two units from prior week. Meanwhile, the prices for 58% iron ore rose by three units from previous week to 131.
Instigated by the seasonal steel demand across China, the iron ore prices have shown an upward trend, which is within experts' expectations. As for the market prospect, experts said that the given to the current steelmakers have suffered from a low profitability, thus mills are very prudent about their procurement activities. Thus the iron ore prices will continue its volatile trend in the short run.