Import iron ore prices for China continue to move up

During the past week ending July 20, prices of import iron ore for China have continued their upward trend, while transaction activity for import iron ore in the past week has been at medium levels. At the same time, traders’ offers of domestic production iron ore have risen slightly in Liaoning Province and Tangshan, with transaction activity for domestic production ore at medium levels.

At present, Indian fine ores of 63.5 percent grade are offered at $69.7/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $88/mt and prices of the same material are at $78/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.

During the given week, semi-finished steel and finished steel prices in China have increased, exerting a positive impact on the iron ore market. Iron ore inventory levels at Chinese ports have risen in the given week. In addition, domestic steelmakers’ iron ore inventories are now at relatively high levels, which will likely exert some negative pressure on iron ore prices. It is thought that iron ore prices will edge up slightly or move sideways in the coming week.

Imported iron ore prices

The prices are deal prices in local market. 

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

Domestic iron ore prices in local Chinese market 

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

$1 = RMB 6.77