Import iron ore prices for China still follow soft trend

Thursday, 30 March 2017 15:14:11 (GMT+3)   |   Shanghai
       

During the week ending March 30, prices of import iron ore for China have indicated a declining trend, 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 a soft trend, 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 $87.3/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $108/mt and prices of the same material are at $92/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 significant declines in Chinese domestic finished steel and semi-finished steel prices have caused Chinese steelmakers to lower their purchase prices for iron ore, dragging down import iron ore prices and also affecting local iron ore prices. Meanwhile, the rising iron ore inventory at Chinese ports has negatively influenced prices of imported iron ore. In addition, traders are not as confident as they were previously since the steel market has so far not performed as well as expected. It is expected that iron ore prices in China will move down slightly in the coming week.

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

670-680

97-99

↓20

Brazil fines

63,5

Brazil

620-630

90-91

↓30

Yandi fines

58 / 59

Australia

515-525

75-76

↓35

PB fines

61,5

Australia

615-625

89-91

↓35

PB iron ore lump

62

Australia

655-665

95-97

↓25

Indian fine ore

63,5

India

595-605

86-88

↓20

Indian fine ore

63

India

585-595

85-86

↓20

Indian fine ore

62

India

565-575

82-83

↓20

Indian fine ore

61

India

545-555

79-81

↓20

Indian fine ore

59

India

380-390

55-57

↓20


 
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

640

93

↓20

damp base (iron content: 66%)

Beipiao

545

79

↓15

17 percent VAT is excluded in all prices and all prices are ex-warehouse.
 
$1 = RMB 6.89


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