Chinese iron ore market moves on slight uptrend

Thursday, 01 December 2016 16:30:19 (GMT+3)   |   Shanghai
       

During the week ending December 1, prices of import iron ore for China have mostly increased, while transaction activity for import iron ore has been at medium levels. At the same time, traders’ offers of domestic production iron ore in Tangshan and Liaoning Province have remained stable, with transaction activity for domestic production ore at medium levels.
 
At present, Indian fine ores of 63.5 percent grade are offered at $75.5/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $76.9/mt and prices of the same material are at $63.9/mt in Beipiao, Liaoning, both excluding VAT. Prices of domestic production and imported iron ore in China are presented in the following table.

During the given week, ferrous metal futures prices in China have indicated significant fluctuations, with both increases and decreases seen in the market. Iron ore prices in the spot market have just indicated a slight rising trend. Meanwhile, the fluctuations in futures prices have reflected a mix of both optimism and pessimism in market players’ sentiment towards the market. It is thought that iron ore prices in the Chinese market will likely indicate some fluctuations in the coming week.

Domestic iron ore prices in local Chinese market
 
Product Spec. Place of Origin Market price excluding tax (RMB/mt) Price ($/mt) Weekly Change (RMB/mt)
Domestic iron ore concentrate damp base (iron content: 66%) Tangshan 530 77 0
damp base (iron content: 66%) Beipiao 440 64 0
 
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
 
Imported iron ore prices in local Chinese market
 
Product Name Name of Port Iron Content % Place of origin Truck loaded price (RMB/mt) Price($/mt) Weekly Change (RMB/mt)
Newman iron ore lump Qingdao 63/63.5 Australia 655-665 95-67 ↑10
Brazil fines 63,5 Brazil 625-635 91-92 ↑10
Yandi fines 58 / 59 Australia 535-545 78-79 ↑10
PB fines 61.5 Australia 625-635 91-93 ↑10
PB iron ore lump 62 Australia 645-655 94-95 ↑10
Indian fine ore 63.5 India 515-525 75-76 ↑10
Indian fine ore 63 India 505-515 74-75 ↑10
Indian fine ore 62 India 475-485 69-70 0
Indian fine ore 61 India 455-465 66-67 0
Indian fine ore 59 India 415-425 60-61 0
 
The prices are deal prices in local market.
 
17 percent VAT is included in all prices and all prices are ex-warehouse.
 
$1 = RMB 6.89
 
 


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