According to Xinhua-China iron ore price index, the domestic imported iron ore stockpiles in Chinese 25 main ports reached 98.34 million metric tons on July 30, decreasing by 140 thousand tons compared to previous week. At the same time, the price index for imported 63.5% iron ore was roughly at 122, down six units from prior week. Meanwhile, the prices for 58% iron ore were 108, dipping by seven units from previous week.
Influenced by the constant price drops in China's steel market, the price for iron ore imports also has shown a downward trend, which is within experts' expectations. As for the market prospect, experts said that the iron ore price may dip further in the short run due to sparse transaction deals in the market.