Stockpiles of iron ore at 25 major Chinese ports further rebounded by the end of the period from April 16 to 22, according to the iron ore price report released by the Xinhua News Agency on Tuesday.
Inventories of imported iron ore at the ports stood at 71.10 million tonnes, up 570,000 tonnes, or 0.81 percent week on week, the report said.
The price index for 63.5-percent-grade iron ore imports dropped 3 points week on week to 138, and that of 58-percent-grade iron ore imports also fell by 3 points week on week to 121, the report shows.
With steel prices continuing to fall, steelmakers have moved to bargain for lower iron ore prices in order to cut costs.
Meanwhile, some steelmakers plan to increase iron ore inventories ahead of the upcoming three-day Labor Day holiday, which runs from April 29 to May 1.
The index, developed by the Xinhua News Agency, is released every Tuesday.
China, the world's top iron ore consumer and buyer, imported 740 million tonnes of the raw material in 2012, up 8.4 percent year on year, data from the General Administration of Customs show.
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