Activity improves in import iron ore market in China

Thursday, 19 May 2016 11:11:48 (GMT+3)   |   Shanghai
       

During the week ending May 19, prices in China of import iron ore from India have indicated an overall downward trend, though prices have remained stable for Australian and Brazilian iron ore, while transaction activity for import iron ore has improved compared to the previous week and is currently at decent levels. At the same time, traders' offers of domestic production iron ore in Tangshan and Liaoning Province have softened, with transaction activity for domestic production ore at low levels.
 
At present, Indian fine ores of 63.5 percent grade are offered at $63.1/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $64.6/mt and prices of the same material are at $55.4/mt in Beipiao, Liaoning, both excluding VAT. Prices of domestic production and imported iron ore in China are presented in the following table.

Domestic iron ore prices in local Chinese market

ProductSpec.Place of OriginMarket price excluding tax (RMB/mt)Price ($/mt)Weekly Change (RMB/mt)
Domestic iron ore concentratedamp base (iron content: 66%)Tangshan42064↓20
damp base (iron content: 66%)Beipiao36055↓10

17 percent VAT is excluded in all prices and all prices are ex-warehouse.
 
Imported iron ore prices in local Chinese market

Product NameName of PortIron Content %Place of originTruck loaded price (RMB/mt)Price($/mt)Weekly Change (RMB/mt)
PB iron ore lumpQingdao63/63.5Australia535-54581-830
Brazil fines63,5Brazil415-42563-650
Yandi fines58 / 59Australia375-38557-590
PB Fines62Australia525-53580-810
PB iron ore lump61.5Australia415-42563-650
Indian fine ore63.5India405-41562-63↓30
Indian fine ore63India395-40560-62↓30
Indian fine ore62India385-39559-60↓30
Indian fine ore61India375-38557-59↓30
Indian fine ore59India345-35553-54↓30

The prices are deal prices in local market.                                         

17 percent VAT is included in all prices and all prices are ex-warehouse.

$1 = RMB 6.54


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