During the past week ending July 27, prices of import iron ore for China first moved down and later switched to a rising trend again, with average prices indicating a decline on week-on-week basis, while transaction activity for import iron ore in the past week has been at low-to-medium levels. At the same time, traders’ offers of domestic production iron ore have remained stable in Liaoning Province and Tangshan, with transaction activity for domestic production ore at low-to-medium levels.
At present, Indian fine ores of 63.5 percent grade are offered at $68.7/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 $78/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
Chinese steelmakers were less willing to conclude purchases of import iron ore in the first part of the week, which exerted downward pressure on prices. However, some shortages of high Fe-content iron ore at Chinese ports have provided support for import iron ore prices in the latter part of the week. Meanwhile, fluctuations in ferrous metals futures prices in China have negatively impacted the finished steel market, though futures prices have rebounded in the past two days. It is thought that iron ore prices in the Chinese market will likely move sideways in the coming week.
Imported iron ore prices
|
Product Name |
Name of Port |
Iron Content % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
|
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
655-665 |
97-99 |
↓10 |
|
Brazil fines |
63,5 |
Brazil |
470-480 |
70-71 |
0 |
|
|
Yandi fines |
58 / 59 |
Australia |
442-452 |
66-67 |
↓6 |
|
|
PB fines |
61,5 |
Australia |
515-525 |
76-78 |
0 |
|
|
PB iron ore lump |
62 |
Australia |
640-650 |
95-96 |
↓10 |
|
|
Indian fine ore |
63,5 |
India |
468-478 |
69-71 |
↓7 |
|
|
Indian fine ore |
63 |
India |
458-468 |
68-69 |
↓7 |
|
|
Indian fine ore |
62 |
India |
438-448 |
65-66 |
↓7 |
|
|
Indian fine ore |
61 |
India |
418-428 |
62-63 |
↓7 |
|
|
Indian fine ore |
59 |
India |
338-348 |
50-52 |
↓7 |
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
|
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 |
515 |
76 |
0 |
|
damp base (iron content: 66%) |
Beipiao |
460 |
68 |
0 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = RMB 6.74