Iron ore prices have fallen from a recent high due to an increase in inventories at Chinese ports.

According to data from Shanghai Steelhome E-Commerce, stockpiles have risen for two consecutive weeks and are now at 147.7 million tons, which is close to the highest levels seen in recent years.

Traders are closely watching the impact of the Chinese government's monetary stimulus measures introduced last month to boost economic confidence.

However, the growing inventory levels are putting downward pressure on iron ore prices, reflecting concerns about demand in the world's largest steelmaking market.