During the past week ending August 24, prices of import iron ore for China have indicated an upward trend, 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 also increased in Tangshan and Liaoning Province, with transaction activity for domestic production ore at medium levels.
At present, Indian fine ores of 63.5 percent grade are offered at $76.6/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $98/mt and prices of the same material are at $86/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, iron ore futures prices at the Shanghai Futures Exchange (SHFE) have increased, providing support for the iron ore spot market. Traders have been making inquiries in particular for high Fe-content iron ore, while steelmakers have been buying iron ore to replenish their stocks. Inventory levels at Chinese ports have decreased, which will exert a positive impact on the iron ore price trend. It is thought that iron ore prices in the Chinese market will likely continue to move in an upward direction in the coming week.
Imported iron ore prices
|
Product Name |
Name of Port |
Iron Content % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
|
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
763-773 |
115-116 |
↑18 |
|
Brazil fines |
63,5 |
Brazil |
523-533 |
79-80 |
↑8 |
|
|
Yandi fines |
58 / 59 |
Australia |
520-530 |
78-80 |
↑35 |
|
|
PB fines |
61,5 |
Australia |
585-595 |
88-89 |
↑3 |
|
|
PB iron ore lump |
62 |
Australia |
748-758 |
112-114 |
↑18 |
|
|
Indian fine ore |
63,5 |
India |
505-515 |
76-77 |
↑15 |
|
|
Indian fine ore |
63 |
India |
495-505 |
74-76 |
↑15 |
|
|
Indian fine ore |
62 |
India |
475-485 |
71-73 |
↑15 |
|
|
Indian fine ore |
61 |
India |
455-465 |
68-70 |
↑15 |
|
|
Indian fine ore |
59 |
India |
370-380 |
56-57 |
↑10 |
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 |
555 |
83 |
↑10 |
|
damp base (iron content: 66%) |
Beipiao |
490 |
74 |
↑10 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = RMB 6.66