In the February 8-14 period, the Chinese iron ore price index was at 319.43 points, increasing by 33.88 points or 11.86 percent compared to the previous period (January 25-February 7), 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 242.41 points, up 4.27 points compared to the previous week, while the iron ore import price index was at 333.95 points, indicating an increase of 13.4 percent week on week.
In the February 8-14 period, Chinese domestic iron ore prices averaged at RMB 623.76/mt ($90.79/mt), increasing by 1.79 percent compared to the previous week, while the average iron ore import price was at $90.2/mt, rising by $10.66/mt or 13.4 percent compared to the previous week.
China iron ore index
Item | Latest week | Previous period | Weekly change | Weekly change rate |
(Feb. 8-14) | (Jan. 25-Feb. 7) | |||
China iron ore price index | 319.43 | 285.55 | 33.88 | 11.86% |
242.41 | 238.14 | 4.27 | 1.79% | |
2. Iron ore import price index | 333.95 | 294.48 | 39.47 | 13.40% |
Item | Latest week | Previous period | Weekly change | Weekly change rate |
(Feb. 8-14) | (Jan. 25-Feb. 7) | |||
China domestic iron ore price (RMB/mt) | 623.76 | 612.78 | 10.98 | 1.79% |
Iron ore import price ($/mt) | 90.2 | 79.54 | 10.66 | 13.40% |
RMB price (RMB/mt) | 762.24 | 681.92 | 80.32 | 11.78% |
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).