China's Iron Ore Price Running at a High Level in April

In April, domestic iron ore demand was basically stable, but iron ore prices fluctuated at a high level. Specifically presents the following characteristics.

Firstly, China's iron ore price index fluctuated upwards. According to the monitoring of China Iron and Steel Industry Association, at the end of April, China Iron Ore Price Index (CIOPI) was 334.74 points, up 24.07 points annually, or 7.75%. Among them, the domestic iron ore price index was 286.83 points, a decrease of 6.98 points, a decline of 2.38%, and the imported iron ore price index was 343.80 points, a rise of 29.47 points, a rise of 9.38%.

Secondly, the price of domestic iron ore dropped slightly, while the price of imported iron ore continued to rise. By the end of April, the tax price of CIOPI domestic iron ore was 630.83 CNY/ton, a decrease of 15.32 CNY/ton, a decrease of 2.38%. The CIOPI imported iron ore landed price was 92.86 dollars/ton, a rise of 7.96 dollars/ton, an increase of 9.38%.

Thirdly, the stock of imported mining ports decreased slightly and the supply of port stock was sufficient. At the end of April, the stock of imported iron ore ports in China was 134 million tons, down 12.76 million tons annually, or 8.68%. Although the inventory of iron ore ports has declined annually, it is still at a high level and the stock supply is sufficient.

Fourthly, the iron ore price has reached a high level, far exceeding the increase of steel price in the same period. At the end of April, the China Steel Price Index (CSPI) was 112.67 points, up 5.18% from the beginning of this year and down 0.15% from the same period last year, according to the China Iron and Steel Industry Association. In the same period, CIOPI imported iron ore prices rose 34.52% from the beginning of this year and 42.55% from the same period last year, far greater than the increase in steel prices. From January to April, profits in the steel industry fell by 28.10% year-on-year. The price of iron ore has risen beyond expectation, which has a great negative impact on the smooth operation of the iron and steel industry.