Iron ore prices in China indicated a sharp decrease in early July, shifting to a rebounding trend in the latter part of July, as stated in a new report issued by the China Iron and Steel Association (CISA) on August 5.
At the end of July this year, the China Iron Ore Price Index (CIOPI) stood at 201.43 points, down 16.05 points or 7.38 percent month on month. In particular, the domestic production iron ore price index stood at 206.29 points, down 5.26 points or 2.49 percent month on month, while the import iron ore price index stood at 200.07 points, down 19.07 points or 8.70 percent month on month.
For the whole month of July, the average China Iron Ore Price Index (CIOPI) was at 194.39 points, down 31.04 points or 13.77 percent month on month. In particular, the average domestic production iron ore price index was at 206.05 points, down 8.57 points or 3.99 percent, while the average import iron ore price index stood at 191.11 points, down 37.35 points or 16.35 percent, both month on month.
As stated by the CISA, it is thought that iron ore prices in China will likely indicate fluctuations in the coming period, while reports are heard that steelmakers in northern China will have to limit their production from late August to mid-October due to environmental protection measures amid approaching national holidays at the start of September and at the beginning of October, and such output reductions would contribute to the soft trend of iron ore prices.