According to the China Iron and Steel Association (CISA), at the end of May the Chinese iron ore price index (CIOPI) compiled by the CISA stood at 479.53 points, down 19.11 points or 3.83 percent from the end of April.
In particular, at the end of May the Chinese domestic iron ore price index was at 361.47 points, declining by 22.24 points or 5.8 percent month on month, while the import iron ore price index was at 543.95 points, decreasing by 17.40 points or 3.10 percent compared to the end of April.
The CISA stated that the decline of the Chinese iron ore price index in May was mainly due to the continuous decreases seen in steel prices.