During the week ending May 18, average prices of import iron ore for China have fluctuated slightly, while transaction activity for import iron ore has been at medium levels. At the same time, traders’ offers of domestic production iron ore have indicated a slight uptrend, with transaction activity for domestic production ore also at medium levels.
At present, Indian fine ores of 63.5 percent grade are offered at $66.8/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $89/mt and prices of the same material are at $71/mt in Beipiao, Liaoning, both excluding VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, import iron ore prices for China have indicated minor fluctuations, while inventories of iron ore at Chinese ports have risen slightly. Chinese domestic ferrous metal futures prices have rebounded, providing a certain degree of support for prices of domestic production iron ore. Meanwhile, some steelmakers have started to resume their production with the steel output restrictions for the One Belt One Road Forum (BRF) coming to the end and so demand in China for iron ore is expected to improve, it is thought that in the coming week iron ore prices in China will edge up slightly, with some fluctuations also possible.
Imported iron ore prices
| Product Name | Name of Port | Iron Content % | Place of origin | Truck loaded price (RMB/mt) | Price($/mt) | Weekly Change (RMB/mt) |
| Newman iron ore lump | Qingdao | 63/63.5 | Australia | 605-615 | 88-89 | ↑20 |
| Brazil fines | 63,5 | Brazil | 445-455 | 64-66 | ↓5 | |
| Yandi fines | 58 / 59 | Australia | 395-405 | 58-59 | ↓5 | |
| PB fines | 61,5 | Australia | 465-475 | 67-69 | 0 | |
| PB iron ore lump | 62 | Australia | 580-590 | 84-85 | ↑10 | |
| Indian fine ore | 63,5 | India | 455-465 | 66-68 | ↓5 | |
| Indian fine ore | 63 | India | 445-455 | 64-66 | ↓5 | |
| Indian fine ore | 62 | India | 425-435 | 62-63 | ↓5 | |
| Indian fine ore | 61 | India | 405-415 | 58-60 | ↓5 | |
| Indian fine ore | 59 | India | 295-305 | 43-44 | ↑15 |
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 | 520 | 76 | ↑15 |
| damp base (iron content: 66%) | Beipiao | 420 | 61 | 0 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = RMB 6.89