Steel production continued to fall in October. Iron ore demand intensity fell, port inventories continued to climb, iron ore prices fluctuated downward. With the late cold weather, demand will further reduce, the iron ore market supply over demand will be more prominent, iron ore prices still have room for decline.
I. month-on-month decline in China's iron ore price index
At the end of October, China's iron ore price index (CIOPI) was 314.23 points, down 23.44 points or 6.94% from a month earlier, according to the Iron and Steel Association. Among them, the domestic iron ore price index was 330.56 points, down 3.30 points, or 0.99%, while the imported iron ore price index was 311.14 points, down 27.25 points, or 8.05%, from the previous month.
