In the May 6-10 period, the Chinese iron ore price index was at 478.48 points, up 3.98 points or 0.84 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 359.66 points, declining by 4.46 or 1.22 percent week on week, while the iron ore import price index was at 526.77 points, indicating an increase of 7.41 points or 1.43 percent compared to the previous week.
Chinese domestic iron ore prices averaged at RMB 925.47/mt ($146.67/mt), down RMB 11.48/mt ($1.81/mt) from the previous week, while the average iron ore import price was $142.28/mt, rising by $2.00/mt, both are week on week.
China iron ore price index
Latest period | Previous week | Weekly change rate (%) | ||
(May 6-10) | (Apr. 29-May 3) | |||
478.48 | 474.5 | 3.98 | 0.84 | |
359.66 | 364.12 | -4.46 | -1.22 | |
2. Iron ore import price index | 526.77 | 519.36 | 7.41 | 1.43 |
Item | Latest period | Previous week | Weekly change | Weekly change rate (%) |
(May 6-10) | (Apr. 29-May 3) | |||
925.47 | 936.95 | -11.48 | -1.22 | |
Iron ore import price ($/mt) | 142.28 | 140.28 | 2 | 1.43 |
RMB price (RMB/mt) | 1,032.37 | 1,020.09 | 12.28 | 1.2 |
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).