Reportedly, iron ore inventory at 25 major Chinese ports totaled 74.268 million tons as of September 9, declining 0.66% or 490,000 tons from the previous week.
According the Xinhua-China Iron Ore Price Index as of the same date, China's imported iron ore with 63.5% iron content was at 136 points, and 126 points for the 58% iron content ore, down one and two points respectively from the previous week.
The Chinese import market of iron ore has been moderate during the given week as traders are unwilling to give ground on prices though the domestic mills remain cautious, hence the slow market.
The steel demand in the Chinese market is not yet grown as expected although the traditional peak season has arrived.
It is thought that the Chinese iron ore import market will remain slightly declining in the coming week.