Compilation Methodology of CIOPI

Inquiries : 153 - 2017/3/8 14:11:55

1,Composition of CIOPI

CIOPI are constituted by a comprehensive index and two sub indexes namely domestic iron ore price index and imported iron ore price index. On the basis of the calculation of domestic iron ore price index and imported iron ore price index, CIOPI is the weighted average according to the weight of the imported iron ore and domestic iron ore over the domestic pig iron output.

1.1, Domestic iron ore price index

1.2 Imported Iron ore price index

2, Compilation methodology of China Iron ore price index,

2.1, domestic price index

2.2, methodology

2.2.1, weight coefficient,

The weight coefficient was based on the proportion of iron ore output of the provinces in the previous year over the total output. (Adjustment was made every February according to the output in the previous year)

2.2.2, sample
A, the standard of 65% domestic iron ore sample is as follows:
Iron content: 65%, range: 60%-67% Humidity: 8%, range: 6-10%
Silicon dioxide: 5%, range: 4-6%

2.2.3, Price index compilation methodology:
The domestic dry concentration price with tax in the 14 provinces and 32 mining areas are converted into 65% content dry standard price with tax, according to which the domestic price are calculated by weigh average. The 65% price would not be converted into index.

The domestic dry concentration price with tax in the 14 provinces and 32 mining areas are converted into 62% content dry standard price with tax, according to which the domestic price are calculated by weigh average. The nation's weigh average price index takes the price in Apr, 1994 as 100 points to calculate domestic iron ore price index.

2.3, imported price index

2.3.1, Sources:

The basic data of imported iron ore price are sourced from:
2.3.1.1, the import price direct report system based on the direct import iron ore contract price collected by enterprises daily

2.3.1.2, the import price direct report system based on the direct import iron ore spot price collected by enterprises daily
2.3.1.3, price of the direct import iron ore assessed by experts group on every working day (calculated by USD)
2.3.1.4, price of the direct import iron ore assessed by personnel in charge of information on every working day (calculated by USD)