In the May 20-24 period, the Chinese iron ore price index was at 461.63 points, down 16.49 points or 3.45 percent compared to the previous week, 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 358.22 points, unchanged from the previous week, while the iron ore import price index was at 503.67 points, indicating a decrease of 23.21 points or 4.41 percent compared to the previous week.
Chinese domestic iron ore prices averaged at RMB 921.76/mt ($146.08/mt), neutral week on week, while the average iron ore import price was at $136.04/mt, falling by $6.27/mt, both week on week.
China iron ore price index
Latest week |
Previous week |
Weekly change rate (%) |
||
(May 20-24) |
(May 13-17) |
|||
461.63 |
478.14 |
-16.49 |
-3.45 |
|
358.22 |
358.22 |
0 |
0 |
|
2. Iron ore import price index |
503.67 |
526.88 |
-23.21 |
-4.41 |
Item |
Latest week |
Previous week |
Weekly change |
Weekly change rate (%) |
(May 20-24) |
(May 13-17) |
|||
921.76 |
921.76 |
0 |
0 |
|
Iron ore import price ($/mt) |
136.04 |
142.31 |
-6.27 |
-4.41 |
RMB price (RMB/mt) |
984.72 |
1032.27 |
-47.55 |
-4.61 |
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).