Import iron ore prices for China move on soft trend

Thursday, 29 December 2016 14:39:14 (GMT+3)   |   Shanghai
       

During the week ending December 29, prices of import iron ore for China have indicated a declining trend, while transaction activity for import iron ore has been at medium levels. At the same time, traders' offers of domestic production iron ore in Tangshan and Liaoning Province have remained stable, with transaction activity for domestic production ore at medium levels.

At present, Indian fine ores of 63.5 percent grade are offered at $72.6/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $79.8/mt and prices of the same material are at $66.8/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 past week, finished steel prices in China have indicated downward corrections, exerting a negative impact on iron ore prices in the spot market. At the same time, transaction activity for import iron ore has been at medium levels due to steelmakers' replenishment of stocks before the New Year holiday. As markets players are mostly maintaining a wait-and-see stance towards the market, it is thought that iron ore prices in the Chinese market will likely move sideways in the coming week.

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

550

79

0

damp base (iron content: 66%)

Beipiao

460

66

0

17 percent VAT is excluded in all prices and all prices are ex-warehouse.

Imported iron ore prices in local Chinese market

 

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

645-655

93-94

↓20

Brazil fines

63,5

Brazil

605-615

87-88

↓20

Yandi fines

58 / 59

Australia

515-525

74-76

↓20

PB fines

61,5

Australia

605-615

87-88

↓20

PB iron ore lump

62

Australia

635-645

91-93

↓20

Indian fine ore

63,5

India

495-505

71-73

↓10

Indian fine ore

63

India

485-495

70-71

↓10

Indian fine ore

62

India

465-475

67-68

↓10

Indian fine ore

61

India

445-455

64-65

↓10

Indian fine ore

59

India

405-415

58-60

↓10


The prices are deal prices in local market.

17 percent VAT is included in all prices and all prices are ex-warehouse.

$1 = RMB 6.95


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