Iron ore demand in China rose in November and prices generally leveled off

The ministry of industry and information technology (miit) recently released news that China's iron ore demand rose in November, and the price changed from falling to rising and then showed a slight fluctuation trend, generally stabilizing.The specific performance is as follows.

I. iron ore import volume and inventory decrease simultaneously.China imported 90.65 million tons of iron ore in November, 2.21 million tons less than the previous month and 2.4 percent less than the previous month, according to the general administration of customs.China imported 970 million tons of iron ore in the january-november period, down 0.7 percent from a year earlier.The inventory of imported iron ore ports in China was 123 million tons, down 4.53 million tons or 3.53 percent month-on-month.

Ii. China's iron ore price index changed from down to up.At the end of November, the China iron ore price index (CIOPI) was at 319.34 points, up 5.11 points, or 1.63 per cent, from a month earlier.For the whole month, the average CIOPI composite index in November was 311.49 points, down 14.02 points or 4.31% from the previous month.Among them, the average domestic iron ore price index was 323.15 points, down 2.74% month-on-month.The average imported iron ore price index was 309.29 points, down 4.61% month-on-month.

Import and domestic iron ore prices were mixed.According to the monitoring of China iron and steel association, at the end of November, the tax-inclusive price of domestic iron ore was 705.0 yuan/ton, down 22.0 yuan/ton month-on-month, or 3.0%;The price of imported iron ore was $86.2 / ton, up $2.2 / ton or 2.6% from the previous month, which was different from the price trend of domestic iron ore.

At the end of November, China's steel price index (CSPI) was 108.17 points, up 3.67 percent month-on-month.Iron ore prices are expected to continue to rise in the later period, will continue to show a small fluctuation trend, generally stable.


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