China’s Xinhua News Agency announced the debut of the Xinhua-China Iron Ore Price Index on March 12. The new index will be worked out through a diverse means of calculation using the transaction prices of iron ore of different grades on the back of in-depth research and analysis of the country’s iron ore trade situation and inventories at major ports. As of March 11, the Xinhua- China IOP Index for iron ore with 63.5 percent iron content stood at 176 points, while that of iron ore grading 58 percent was 138, both down two points from the previous week. The index, which will be released every week through the Xinhua08 platform, will serve as a reference indicator that is able to reflect changes in iron ore stocks in China.