China's iron ore price index overall was lower than last month in May, according to the latest statistics from cisa. The may composite average was 224.92, down 28.24 points from the previous month, down 11.16 percent. The domestic iron ore price index averaged 218.27 points, down 17.45 points, or 7.40%, from last month. The average iron ore price index was 226.17, down 30.28 points from the previous month, down 11.81 percent.
In terms of inventory, the total stock of iron ore ports in China rose to 14027m tonnes in late may, up 5.21 per cent from the previous month and 37.71 per cent year on year. 1 - in April, at the same time, the national iron accumulative total increment is only 9.61 million tons, compared with imported iron ore increment of 27.9 million tons, far in excess of the pig iron production demand, the iron ore market oversupply situation.
Cisa believes that the rainy season and environmental factors, such as iron and steel production is on the decline, the late iron ore demand intensity is reduced, the obvious contradiction between supply and demand, prices rebounded sharply, to fluctuations in operation.