In the February 27-March 5 period, the Chinese iron ore price index was at 403.37 points, decreasing by 12.66 points or 3.04 percent compared to the previous week, as announced by the China Iron and Steel Association (CISA). The index consists of a domestic iron ore price index and an iron ore import price index. For the given period, the China domestic iron ore price index was at 342.17 points, down by 2.26 points from the previous week, while the iron ore import price index was at 428.45 points, indicating a decrease of 16.68 points or 3.75 percent compared to the previous week.
In the given period, Chinese domestic iron ore prices averaged at RMB 880.47/mt ($143.87/mt), down by RMB 5.82/mt ($0.95/mt), while the average iron ore import price was $115.67/mt, decreasing by $4.56/mt, both week on week.
China iron ore price index
Item | Latest week | Previous week | Weekly change | Weekly change rate (%) |
(Feb. 27-Mar. 5) | (Feb. 20-25) | |||
China iron ore price index | 403.37 | 416.03 | -12.66 | -3.04% |
1. China domestic iron ore price index | 342.17 | 344.43 | -2.26 | -0.66% |
2. Iron ore import price index | 428.45 | 445.13 | -16.68 | -3.75% |
Item | Latest week | Previous week | Weekly change | Weekly change rate (%) |
(Feb. 27-Mar. 5) | (Feb. 20-25) | |||
China domestic iron ore price (RMB/mt) | 880.47 | 886.29 | -5.82 | -0.66% |
Iron ore import price ($/mt) | 115.67 | 120.23 | -4.56 | -3.79% |
RMB price (RMB/mt) | 828.73 | 860.74 | -32.01 | -3.72% |
Notes:
The RMB price includes tax, but the iron ore import CFR US$ price excludes tax.
The above Chinese domestic iron ore is grade 62 percent iron ore concentrate (on dry basis); the import iron ore is 62 percent iron ore fine ore (on dry basis).