According to Xinhua-China iron ore price index, the domestic imported iron ore stockpiles in Chinese 25 main ports reached 97.16 million metric tons on June 18, increasing by 700 thousand tons compared to previous week. At the same time, the price index for imported 63.5% iron ore was roughly at 138, up two units from prior week. Meanwhile, the prices for 58% iron ore were 117, also surging by one unit from previous week.
Even though the domestic steel price has risen up slightly from prior time, experts said that it belongs to the normal fluctuations and most of them believe that the iron price will not hike further owing to the desolate domestic steel market.