In the May 27-June 2 period, the Chinese iron ore price index was at 225.31 points, increasing by 3.56 points or 1.61 percent compared to the previous week (May 20-26), 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 214.04 points, remaining stable compared to the previous week, while the iron ore import price index was at 228.47 points, indicating a rise of 2.44 percent week on week.
In the May 27-June 2 period, Chinese domestic iron ore prices averaged at RMB 550.75/mt ($88.8/mt), remaining unchanged compared to the previous week, while the average iron ore import price was at $61.71/mt, increasing by $1.23/mt or 2.03 percent, both compared to the previous week.
China iron ore index
Item | Latest week | Previous week | Weekly change | Weekly change rate |
(May 27-June 2) | (May 20-26) | |||
China iron ore price index | 225.31 | 221.75 | 3.56 | 1.61% |
1. China domestic iron ore price index | 214.04 | 214.04 | 0 | 0.00% |
2. Iron ore import price index | 228.47 | 223.02 | 5.45 | 2.44% |
Item | Latest week | Previous week | Weekly change | Weekly change rate |
(May 27-June 2) | (May 20-26) | |||
China domestic iron ore price (RMB/mt) | 550.75 | 550.75 | 0 | 0.00% |
Iron ore import price ($/mt) | 61.71 | 60.48 | 1.23 | 2.03% |
RMB price (RMB/mt) | 484.44 | 479.7 | 4.74 | 0.99% |
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).