price index of iron ore

Around the “Spring Festival” in January and February, the domestic market is the low demand for mild steel pipe and steel pipe production has decreased. However, the impact of Brazil’s vale dam collapse, iron ore prices rose sharply. The supply and demand situation of iron ore has not changed significantly, and the price of iron ore cannot continue to rise substantially. At the end of January, China’s iron ore price index (CIOPI) stood at 294.76, up 41.37 points or 16.33 per cent from the previous month, according to the iron and steel association.Among them, the domestic iron ore price index was 243.47 points, up 4.53 points month-on-month, or 1.90%.The price index of imported iron ore was 302.52 points, up 46.95 points or 18.37% from the previous month.

On a monthly basis, the China iron ore price index (CIOPI) is generally higher than last month.The composite index of average CIOPI rose 19.44 points, or 7.82 per cent, to 268.17 in January. Among them, the price index of average domestic iron ore was 241.54 points, up 2.66 points from the previous month, or 1.11%. The average price index of China hollow section tube was 272.19 points, up 21.97 points or 8.78% from the previous month. At the end of January, the price of CIOPI domestic square steel pipe was 626.49 yuan/ton, up by 11.65 yuan/ton, or 1.90%. The CIF price of imported powder ore from CIOPI was 81.71 USD/ton, up 12.68 USD/ton month-on-month, up 18.37%, 16.47 percentage points higher than that of domestic ore. It is important to note that the price of imported ore has risen sharply. The average landed price of imported powders was $73.52 per ton, up $5.94 per ton or 8.78% from the previous month. All these situation will affect the domestic price of rectangular hollow sections.

According to the statistics of iron and steel association, the average daily output of member steel pipe enterprises was 1.81666 million tons in the first half of January, estimated to be 2.47% lower than that in December last year. Estimated daily production of pig iron in China is 1.9938 million tons, down 2.20% from December. At the end of January, the port inventory of national iron ore was 140 million tons, down by 1.82 million tons, or 1.29%. Overall, the oversupply trend of iron ore market has not been greatly improved. It shows that the downward pressure of national economy is large and the steel pipe demands for cold rolled steel pipe is difficult to continue to grow.