According to Xinhua-China iron ore price index, the domestic imported iron ore stockpiles in Chinese 25 main ports reached 96.76 million metric tons on June 26, decreasing by 400 thousand tons compared to previous week. At the same time, the price index for imported 63.5% iron ore was roughly at 140, up two units from prior week. Meanwhile, the prices for 58% iron ore were 119, also surging by two units from previous week.
Although the iron ore price has ramped up softly, experts said that the upward trend is unsustainable owing to the approaching low season for steel market and high-remained social steel inventories.