According to Xinhua-China iron ore price index recently, the domestic imported iron ore stockpiles in Chinese 25 main ports have reached 99.60 million metric tons in this week, dropping by 0.75 million metric tons compared to last week. At the same time, the price index for imported 63.5% iron ore is roughly 145, down 2 unit week over week. While the prices for 58% iron ore is still pegged at 119, almost unchanged from prior week.
From this week, the price for imported iron ores has ceased the two-week-long hikes and begun to dip again, thus most mills are holding a wait-and-see attitude and refused to place new procurement orders at this special period.