The spot price of iron ore fines 62% to China is being offering at US$59.63/ton, dropping by US$3.02/ton or 4.82% from the previous price. 

The average price of iron ore was US$55.22/ton in the month. 

Meanwhile, the China Iron Ore Price Index (CIOPI) decreased by 8.79 points or 3.98% week on week to 212.27 points as of March 9th, according to the latest statistics by the China Iron and Steel Association (CISA).

• [Editor:Chen Zhen Seng]