Simultaneously with the loss of Yuan;

Iron ore inventories in China`s 44 ports dropped 0.7 percent to 153.1 million tons at the end of trading this week.

One of the factors behind the decline in ports` inventories is the drop in the Chinese yuan, which lost 4.42% of its value over the past month.
Indeed, iron ore imports are now more expensive than ports, and therefore we will see a drop in inventory that is continuing.
With continued production constraints in agglomerates and pellets in some parts of China, we continue to see a continued increase in the price gap between middle and high grade iron ore.
It is expected that with continued restrictions, we will see a rise in steel prices in China, which could be a trigger for the price of iron ore.