Weak demand of steel products continued to weigh down on iron ore prices in China, forcing dealers to stockpile inventories, the China Iron and Steel Association (CISA) said Tuesday.

One of the longest losing streaks for the price of iron ore may have come to an end on Friday last week, but the recent rout does not appear over yet.

According to data, Korea’s iron ore imports totaled 36.81 million tons in the first half of this year, soaring by 26% year on year.

Australian Fortescue Metals Group (FMG) said that the company’s iron ore shipments hit a record high of 13.3 million tons in June, equaling an annualised run rate of 160 million tons.

It is reported that India’s JSW Steel imported its first iron ore shipment of 170,000 tons last week from South Africa.

Indian National Mineral Development Corporation Limited (NMDC) released its sales report for the first quarter of 2014.

According to the latest figures from the Brazil’s foreign trade department, Brazil's iron ore exports soared by 13% to 29.5 million tons in June compared to the same month in 2013.

According to data released by the Brazilian Ministry of Development, Industry and Foreign Trade, Brazil’s iron ore exports totaled 29.55 million tons in June, decreasing by 3.7% from a month ago and increasing by 13.2% year on year.