China's iron ore trade is weak

Iron ore prices in Chinese ports remain stable. Some traders tend to stimulate sales due to lower costs, while most of them are still on standby and watch. Steel mills have low buying interest as they maintain sufficient demand for iron ore.

While steel mills are not active in purchasing, trading companies associated with the factories tend to sell iron ore resources. Traders have lost confidence in the upcoming market in light of low transactions and high port inventories.