OREANDA-NEWS. July 12, 2012. While the once-inflated prices of imported iron ore were declining in late June, domestic ore prices were on the rise.

As of the end of June, the domestic iron ore price index was 948.52 yuan a ton, 1.98 percent more than the previous week; the imported ore index was 993.84 yuan a ton on CIF basis, down 8.61 percent. Domestic steelmakers have inclined to buy cheaper household materials under the pressure of operating difficulties.

In the first five months, the profits of key steelmakers were 2.53 billion yuan, down 94.26 percent year-on-year. Their average sales margin was down by 2.73 percentage points to just 0.17 percent. The whole industry was on the verge of losses. The iron ore prices, home and overseas, could continue to stumble in the future.