Import iron ore prices for China continue to rise

During the past week ending July 13, 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 while moving on a stable trend in Tangshan, with transaction activity for domestic production ore at medium levels.

At present, Indian fine ores of 63.5 percent grade are offered at $68.2/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $87/mt and prices of the same material are at $75/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, iron ore prices have moved on an uptrend as some steelmakers have stepped up their purchases, while inventory levels at ports have decreased. Steelmakers’ blast furnace capacity utilization rates are still at high levels, though their iron ore inventories have started to rise, which will likely exert a negative impact on iron ore prices. It is thought that iron ore prices will 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 6.78