It's reported that China's iron ore inventories have emerged an upward trend at its major 25 ports during the week ended August 6th even the price tends to stabilize.
Currently, the inventories of imported iron ore totaled 98.76 million tons, rising from 420,000 tons from a week earlier.
Meanwhile, the current iron ore prices have decreased by 15% from the beginning of the year. For 63.5% grade iron ore price remains 122 point from the previous week.
The steel demand is expected to remain weak in August and there will be no quick recovery in the near future.