China's recent iron ore price showed heavy fluctuation with no motivation for significant hike due to narrow supply-demand gap, according to the Ministry of Commerce (MOFCOM).

     Statistics show that the average price of iron ore in June was 1, 560 yuan/ton, up 1.96 percent from previous month slightly.

     Besides, the supply-demand condition is loose resulting from increasing supply and weak consumption. MOFCOM expects that the domestic spot price of iron ore will keep in concussion to adjust at a later stage.

     According to data released by the National Bureau of Statistics, China's output of crude iron ore reached 310 million tons in the first five months, up 25.7 percent year on year, and the import of ore sand amounted to 192 million tons, up 19.6 percent.

     However, the shrinking market demand withdrew support for price hike. The output of crude steel came to 216 million tons in January-May, up 9.4 percent on year, but down 10.6 percentage points from a year earlier.