In the October 7-11 period, the Chinese iron ore price index was at 464.82 points, rising by 18.26 points or 4.09 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 353.14 points, down 0.22 points or 0.06 percent from the previous week, while the iron ore import price index was at 510.22 points, indicating an increase of 25.77 points or 5.32 percent compared to the previous week.
In the week ended October 11, Chinese domestic iron ore prices averaged at RMB 908.68/mt ($148.48/mt), a decrease of RMB 0.59/mt ($0.1/mt), while the average iron ore import price was $137.81/mt, increasing by $6.96/mt, both week on week.
China iron ore price index
Item | Latest week | Previous week | Weekly change rate (%) | |
(Oct 7-11) | (Sept 23-27) | |||
464.82 | 446.56 | 18.26 | 4.09 | |
1. China domestic iron ore price index | 353.14 | 353.36 | -0.22 | -0.06 |
510.22 | 484.45 | 25.77 | 5.32 |
Item | Latest week | Previous week | Weekly change | Weekly change rate (%) |
(Oct 7-11) | (Sept 23-27) | |||
908.68 | 909.27 | -0.59 | -0.06 | |
Iron ore import price ($/mt) | 137.81 | 130.85 | 6.96 | 5.32 |
RMB price (RMB/mt) | 990.93 | 941.45 | 49.48 | 5.26 |
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).