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According to Tianjin Customs, in the first half of this year, a total of 37.859 million tons of iron ore were imported at Tianjin port.

Citigroup said in a report that by the end of this year, iron ore inventory in Chinese ports may increase to 140 million tons.

Australian mining giant BHP has recorded its largest quarterly output of iron ore ever from the company's Western Australian (WA) operations, due to strong demand from Chinese steel mills.

China's "new infrastructure" construction plan, particularly charging piles for new energy vehicles, 5G base stations, ultrahigh voltage power and intercity high-speed railways, may boost demand for metals like copper and cobalt, industry experts said.

Companhia Siderúrgica Nacional announced that CSN Mineração SA signed on this date a new long-term iron ore supply contract with the Swiss trading company Glencore International AG.

Iran during the first quarter of the current Iranian year, March 20-June 20, to register a year on year decline of 2%.

Iron ore prices are expected to soften from current high levels in the July-September quarter.

Analysts said the country should ramp up its efforts to revitalize domestic demand to sustain the improvement in industrial earnings amid mounting uncertainties.