Import iron ore prices for China move on stable trend

Thursday, 11 August 2016 12:13:56 (GMT+3)   |   Shanghai
       

During the week ending August 11, prices of import iron ore in China have indicated a stable trend, while transaction activity for import iron ore has been at decent levels. At the same time, traders’ offers of domestic production iron ore in Tangshan and Liaoning Province have moved on a slight upward trend, with transaction activity for domestic production ore also currently at decent levels.

At present, Indian fine ores of 63.5 percent grade are offered at $58.7/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $69.3/mt and prices of the same material are at $55.7/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, Chinese steel mills have increased finished steel production, stimulating demand for iron ore and so transaction activity has been at decent levels. Meanwhile, ferrous metal futures prices in China have been increasing, and this has provided support for import iron ore prices. It is expected that iron ore prices in the Chinese market will likely indicate a slight rising trend 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

460

69

20

damp base (iron content: 66%)

Beipiao

370

55

20

 
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)
PB iron ore lump Qingdao 63/63.5 Australia 575-585 86-87 0
Brazil fines 63,5 Brazil 455-465 68-69 0
Yandi fines 58 / 59 Australia 395-405 59-60 0
PB Fines 62 Australia 565-575 84-86 0
PB iron ore lump 61.5 Australia 455-465 68-69 0
Indian fine ore 63.5 India 385-395 57-59 0
Indian fine ore 63 India 375-385 56-57 0
Indian fine ore 62 India 365-375 54-56 0
Indian fine ore 61 India 355-365 53-54 0
Indian fine ore 59 India 325-335 48-50 0
 
 
The prices are deal prices in local market.                                          

17 percent VAT is included in all prices and all prices are ex-warehouse.
 
$1 = RMB 6.65


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