Stockpiles of iron ore slid at 25 major Chinese ports during the week ending November 12, according to Xinhua's latest iron ore price report.

Inventories of imported iron ore at the ports stood at 97.43 million tons, down 480,000 tons from a week earlier. The price index for 63.5-percent-grade iron ore imports rose 1 point to 123 points during the period, while the index for 58-percent-grade imports also climbed 1 point to stand at 105 points.

In the first three quarters, given the gloomy economic climate both at home and abroad, domestic consumption of iron ore was growing slowly.

Import prices of iron ore were supported by speculations that the government may adopt more measures to bolster the slowing economy, and the prices will be relatively steady in the near-term with the consumption off-season approaching.