Chinese iron ore prices decreased by $8.4 per ton on a weekly basis
China's spot iron ore prices (Fe62%) decreased by $8.4/ton to $119.6/ton CNF China. The previous week, the price was at $129.95/ton CNF China.
Iron ore stocks at Chinese ports decreased
Iron ore stocks decreased by 2.4 million tons on a weekly basis, reaching 34.5 million tons. The level was 137.9 million tons in the previous week.
The price forecasts for 65% spot iron ore pellets remained unchanged
"The 65% iron ore pellet prices, which were at $18.8/ton in the previous week, are expected to be around $18.7/ton.
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