According to China Iron Ore Price Index (CIOPI), Chinese iron ore price index reached 471.56 in late March, up 4.23 points from prior month. During the given period, the price index for home-made iron ore had risen by 6.79 points from previous month to 392.81 but for imported iron ore were roughly at 514.53, up 2.84 points month over month.
Battered by the dejecting steel demand, steelmakers have slowed down their operations. Meanwhile, the rapidly rising home-made and imported iron ores have already made the inventories continue hovering around high levels. Thus under this circumstance, the iron ore price is anticipated to continue rolling back in the upcoming future.