Import iron ore prices for China move down

Thursday, 11 May 2017 14:41:00 (GMT+3)   |   Shanghai
       

During the week ending May 11, average prices of import iron ore for China have indicated a downward trend, 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 at medium levels.

At present, Indian fine ores of 63.5 percent grade are offered at $67.5/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $86/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, the Chinese ferrous metal futures market declined sharply starting from last Thursday, exerting a negative impact on the trend of iron ore prices in the spot market. Meanwhile, inventory levels of iron ore at Chinese ports have increased to historic highs, putting strong downward pressure on imported iron ore prices in the market. However, in the latter part of the week, steel producers have stepped up their purchases, positively impacting iron ore prices. It is expected that iron ore prices in China will likely edge up slightly with some limited fluctuations 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

585-595

85-86

↓40

Brazil fines

63,5

Brazil

450-460

65-67

↓55

Yandi fines

58 / 59

Australia

400-410

58-59

↓15

PB fines

61,5

Australia

465-475

67-69

↓50

PB iron ore lump

62

Australia

570-580

83-84

↓40

Indian fine ore

63,5

India

460-470

67-68

↓40

Indian fine ore

63

India

450-460

65-67

↓40

Indian fine ore

62

India

430-440

62-64

↓40

Indian fine ore

61

India

410-420

59-61

↓40

Indian fine ore

59

India

280-290

41-42

↓30


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

505

73

↑55

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 6.90

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