Iron ore prices in China increased rapidly during the earlier part of February, hitting a peak of 311.01 points on February 19, while they moved down later in the month, as stated in a new report issued by the China Iron and Steel Association (CISA).
At the end of February, the China Iron Ore Price Index (CIOPI) stood at 297.49 points, up 2.73 points or 0.93 percent compared to the end of January this year. In particular, the domestic production iron ore price index was at 249.92 points, up 6.45 points or 2.65 percent month on month, while the import iron ore price index stood at 306.48 points, increasing by 3.96 points or 1.31 percent month on month.
For the whole of February, the average China Iron Ore Price Index (CIOPI) was at 306.48 points, up 38.31 points or 14.29 percent compared to the end of January this year. In particular, the average domestic production iron ore price index stood at 250.36 points, up 8.82 points or 3.65 percent month on month, while the average import iron ore price index stood at 315.55 points, rising by 43.36 points or 15.93 percent month on month.