According to China Iron & Steel Association (CISA), China Iron Ore Price Index (CIOPI, April 1994=100, 62% Fe content) for the third week (16 - 22) of September 2012 turned out to be 358.37 with a slight increase by 0.04 points from the previous week. Hike in domestic iron ore price positively affected the index while imported iron ore price continued to decrease. Domestic iron ore (concentrate, 62% Fe content) index increased by 8.04 from the previous week to 325.41. Average price of domestic iron ore was RMB 837.33, up RMB 20.67 (2.5%), same. Meanwhile, imported iron ore (fines, 62% Fe content) index was 376.36 with a decrease by 4.31 points, same. The price of imported iron ore was CFR US$101.65 per tonne, down US$1.17 (1.1%) or RMB 754.36 per tonne (including tax), down RMB 7.34 (1.0%). Fine (62% Fe content) price at the spot market was US$106 - 107 (CFR China) per tonne. After turning up in the second week of September, it has remained almost flat.
source:tex report