According to Xinhua-China iron ore price index recently, the domestic imported iron ore stockpiles in Chinese 25 main ports reached 98.81 million metric tons on February 27, dropping by 0.69 million metric tons compared to previous week. At the same time, the price index for imported 63.5% iron ore was roughly 145, up one unit compared to prior week. Meanwhile, the prices for 58% iron ore also increased by two units from previous week to 124.
Generally speaking, the domestic iron ore market is still weak at present but it may inch up gradually in the short run given to the resuscitating steel demand from construction industry.