Import iron ore prices for China indicate minor fluctuations

Thursday, 25 May 2017 16:49:50 (GMT+3)   |   Shanghai
       

During the week ending May 25, average prices of import iron ore for China have been characterized by minor fluctuations, 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 stable trend, 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 a fluctuating trend, with some support provided by the overall upward movement of the domestic finished steel market, though increased inventory levels of iron ore at Chinese ports have exerted a negative impact on import iron ore prices. Next week, some steelmakers will start to increase their outputs when steel production restrictions end. With demand for iron ore expected to improve, it is thought that iron ore prices in China will likely move up on a fluctuating trend 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

620-630

90-92

↑15

Brazil fines

63,5

Brazil

435-445

63-65

↓10

Yandi fines

58 / 59

Australia

400-410

58-60

↑5

PB fines

61,5

Australia

455-465

66-68

↓10

PB iron ore lump

62

Australia

595-605

87-88

↑15

Indian fine ore

63,5

India

455-465

66-68

0

Indian fine ore

63

India

445-455

65-66

0

Indian fine ore

62

India

425-435

62-63

0

Indian fine ore

61

India

405-415

59-60

0

Indian fine ore

59

India

290-300

42-44

↓5


 
 
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

0

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 6.87

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