Imported iron ore prices post moderate rises
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E-mail Xinhua, April 10, 2012
Imported iron ore prices post moderate rises The price of iron ore imported to China increased slightly during the March 27-April 9 period compared to one week earlier, new figures showed on Tuesday.
The price index for 63.5-percent-purity iron ore imports rose one point to hit 150 points, according to the index compiled by Xinhua News Agency to track iron ore inventories and imports in Chinese spot markets.
The price index for 58-percent-purity iron ore imports also rose by one point to rest at 128 points.
Meanwhile, iron ore inventories at 25 of China's major sea ports stood at 96.16 million tonnes on April 9, down 1.05 million tonnes from March 26.
Xinhua analysts said the moderate price gains were due to rising steel prices recently and that prices of imported iron ore are likely to continue rising at a moderate pace in April.
However, the trend is not likely to remain in place for long because the steel market faces challenges amid falling investment in the property market and railways, according to the analysts.
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