According to Xinhua-China iron ore price index, the domestic imported iron ore stockpiles in Chinese 25 main ports reached 97.79 million metric tons on March 19, decreasing by 0.79 million metric tons compared to previous week. At the same time, the price index for imported 63.5% iron ore was roughly 149, up 2 units from prior week. Meanwhile, the prices for 58% iron ore also rose by two units from previous week to 126.
Obviously the price hikes for iron ore are caused by rising domestic steel prices. As for the market prospect, experts said that given to the high-remained iron ore inventories and unpleasant market demand from downstream customers, there's just little chance for the domestic iron ore price to rebound dramatically.