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

According to recent data released by 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, marking a drop of 21.97 points or 4.42% from the previous month. Specifically, the domestic iron ore price index fell to 364.14 points, a decrease of 19.60 points, or 5.11%, while the imported iron ore price index dropped to 519.62 points, down 38.65 points, or 6.92%.

At the end of March, the price of domestic iron ore concentrate reached 937.00 yuan per ton, a monthly decrease of 50.44 yuan, or 5.11%. Meanwhile, the landed price of imported iron ore (fine ore) was 140.35 U.S. dollars per ton, down 10.44 dollars from the previous month. In terms of equivalent value, the price was 1,029.41 yuan per ton, a monthly decline of 79.79 yuan, or 7.19%, which represented a steeper fall than the domestic iron ore concentrate price by 2.08 percentage points.

Looking at weekly trends, domestic iron ore concentrate prices declined for four consecutive weeks, but the rate of decline slowed over time. On the other hand, imported iron ore prices showed a more volatile pattern: they rose in the first week, fell in the second, and saw a slight increase in the third. By the fourth week, the downward trend became more pronounced, with resistance to further declines becoming evident.

The overall decline in iron ore prices reflects weak demand from steel producers and an oversupplied market, especially as Chinese steel mills continue to adjust production levels in response to economic slowdowns. Analysts suggest that the downward pressure on prices may persist in the short term, depending on global supply chain dynamics and policy measures from the government.