Import iron ore prices for China move down significantly

Thursday, 20 April 2017 16:46:23 (GMT+3)   |   Shanghai
       

During the week ending April 20, average prices of import iron ore for China have indicated significant declines, while transaction activity for import iron ore has been at low-to-medium levels. At the same time, traders’ offers of domestic production iron ore have also indicated downward movement, 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 $71.2/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $73/mt and prices of the same material are at $64/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 soft trends in Chinese domestic finished steel and semi-finished steel markets have continued to impact prices of both domestic and import iron ore in the Chinese market. Negative sentiment prevails in the market and steelmakers have been unwilling to conclude purchases of iron ore, resulting in a slackening of activity in the market. With the downward movement of domestic finished steel prices having slowed down, it is expected that iron ore prices in China will just edge down slightly 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 545-555 79-81 ↓60
Brazil fines 63,5 Brazil 485-495 70-72 ↓70
Yandi fines 58 / 59 Australia 385-395 56-57 ↓70
PB fines 61,5 Australia 475-485 69-70 ↓70
PB iron ore lump 62 Australia 525-535 76-78 ↓60
Indian fine ore 63,5 India 485-495 70-72 ↓50
Indian fine ore 63 India 475-485 69-70 ↓50
Indian fine ore 62 India 455-465 66-67 ↓50
Indian fine ore 61 India 435-445 63-65 ↓50
Indian fine ore 59 India 295-305 43-44 ↓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 430 62 ↓120
damp base (iron content: 66%) Beipiao 380 55 ↓60
 


17 percent VAT is excluded in all prices and all prices are ex-warehouse.
 
$1 = RMB 6.88


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