The cash price of iron or imports by China, which is the largest customer of steelmaking materials, jumped for the fourth consecutive week by 1.7%. The announcement by government of a CNY 4 trillion stimulus package triggered this event. Prices at Qingdao port increased to 610 Chinese Yuan/ton. The country is investing in housing schemes, railways, and airports to keep the economy on its track which received a huge blow from global economy meltdown. Construction steel tariff increase 10% and settled at 3600 Chinese Yuan/ton during October 2008. However, cash-based price of iron ore is still low by 60% this year.