Iron ore prices fell by 21.97 points compared to the end of March

According to recent data from the China Steel Association, iron ore prices continued to decline at the end of March. The China Iron Ore Price Index (CIOPI) stood at 474.69 points, a drop of 21.97 points or 4.42% compared to the previous month. This decrease was driven by both domestic and imported iron ore prices.

The domestic iron ore price index fell to 364.14 points, down 19.60 points month-on-month, representing a 5.11% decline. Meanwhile, the imported iron ore price index dropped significantly to 519.62 points, a decrease of 38.65 points, or 6.92%. These figures indicate a broad downward trend in the iron ore market across both local and international sources.

Domestic iron ore concentrate prices also saw a sharp decline, ending March at 937.00 yuan per ton, down 50.44 yuan per ton from the previous month, or 5.11%. On the other hand, the landed price of imported iron ore (fine ore) dropped to 140.35 U.S. dollars per ton, a decrease of 10.44 dollars per ton. When converted into local currency, the equivalent price was 1,029.41 yuan per ton, down 79.79 yuan per ton, or 7.19%, which is 2.08 percentage points steeper than the domestic price decline.

Looking at weekly trends, domestic iron ore concentrate prices fell for four consecutive weeks, though the rate of decline slowed over time. In contrast, the price of imported iron ore showed more volatility: it rose in the first week, fell in the second, and then slightly increased in the third. By the fourth week, the downward pressure became more evident, signaling a possible resistance point in the market.

This overall downward movement in iron ore prices may reflect weak demand from steel producers, as well as increased supply or shifting global trade dynamics. Analysts suggest that further declines could be expected unless there are significant changes in macroeconomic conditions or policy adjustments.