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China Iron & Steel Association's Iron Ore Price Index in August
= Domestic and imported iron ore prices both increased =
According to China Iron & Steel Association (CISA), China's domestic and imported iron ore prices for August 2013 both increased. Domestic iron ore price index rose by 2.3 points from the previous month to 357.47 and imported iron ore price index increased by 33.36 points, ditto to 501.70, resulting in the combined price index at 460.02, up 26.05 points, ditto.

At the end of August, the price of domestic iron ore (concentrate, 62% Fe content) including value-added tax amounted to RMB919.84 (approximately US$149.3, $1 = RMB6.16), up RMB20.74 (approximately US$3.4), ditto. The price of imported iron ore was US$135.51 per tonne, up US$9.01 (7.1%) from US$126.5 at the end of July.

Jan-Jul pig iron production totaled 420 million tonnes, up 23.78 million tonnes from the same period the previous year, equivalent to a hike in iron ore at approximately 40 million tonnes. Domestic iron ore (crude ore) increased by 50.05 million tonnes, equivalent to approximately 14 million tonnes of products. Imported iron ore rose by 33.7 million tonnes. At the end of August 2013, iron ore inventory at port totaled 72.99 million tonnes, slightly increasing by 0.5% from the end of the previous month.

Revenue of CISA member companies in Jan-Jul 2013 reached RMB2.301 billion (approximately US$370 million). The profit margin decreased to 0.23%, which was at the lowest level. Many of the member companies posted net loss. At the end of August, steel price index was 102.11, up 1.63 from 100.48 at the end of July 2013, but down 0.34 from 102.45 for September 2012.
last modified : Tue 17 Sep, 2013 [14:12]
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