The Baltic Dry Index, which largely reflects the movement of the global iron ore price, has dropped over 20 percent since the beginning of this year, indicating a weakening global iron ore market.
The index closed at 1,317 points on July 25, down for 12 trading days in a row, and 8.4 percent lower than the 1,437 points it was on July 11.
However, China's iron ore price was in an upward trend. According to www.cnchemicals.com, Iron Ore Fines 63.5 percent was at $182 to $184 per dry ton, after several weeks of rising.
The difference is due to the price negotiated between China and the big three iron ore providers being higher than the current global price.