The China Iron Ore Price Index (CIOPI) went down 4.51 point or 2.73 percent from a month before to 160.47 at the end of December, 2015, according to the China Iron and Steel Association (CISA).
In a breakdown, the homegrown iron ore price index was down 8.52 percent month on month to 170.27, while the imported iron ore price index went down 1.02 percent to 157.42 at the end of December. It is worth noting that iron ore stocks on the domestic market were on the rise, showing a glut. According to the CISA, by the end of December, 26 key enterprises tracked by the CISA saw their iron ore stocks stand at 22.85 million tonnes, up 0.14 percent month on month.
Imported iron ore stocks at the domestic ports amounted to 93.21 million tonnes, up 4.53 percent month on month. In the first 11 months of 2015, China imported 857 million tonnes of iron ore, up 1.3 percent year on year. Given the low steel prices and weak demand in the off season, the iron ore prices in China will likely remain low, the CISA predicted.
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