According to the Xinhua-China Iron Ore Price Index released Tuesday, imported iron ore prices stayed unchanged in the week ending on July 9 from the previous week, as steel factories and traders lacked impetus for purchases amid a sluggish steel market.

Xinhua News Agency reported that the price index for 63.5% purity iron ore imports stayed at 139 points, while the price index for 58% purity iron ore imports also remained unchanged at 118 points, according to the index, which is compiled by Xinhua News Agency to track iron ore inventories and imports on Chinese spot markets. However, stockpiles of imported iron ore at 25 of China's major sea ports rose to 97.91 million tonnes, up 450,000 tonnes from a week earlier.

The news agency reported that the nation's steel prices have taken a dive since the start of the year, which has weighed negatively on demand for iron ore imports.

Source - China Economic Review

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