During the week ending March 31, prices of import iron ore in China have indicated a downward trend, while transaction activity for import iron ore has slackened, though it remains at decent levels. At the same time, traders' offers of domestic production iron ore in Tangshan and Liaoning Province have moved on a stable trend, with transaction activity at decent levels.
At present, Indian fine ores of 63.5 percent grade are offered at $65/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $65/mt and prices of the same material are at $55.7/mt in Beipiao, Liaoning, both excluding VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, Chinese steelmakers' reduced their purchases of iron ore, especially for import iron ore, forcing sellers to reduce their import iron ore prices. After previous increases, iron ore prices now mostly depend on the supply and demand situation and are unlikely to indicate rapid rises or declines in the coming period. It is thought that iron ore prices in China will trend sideways in the coming week.
Domestic iron ore prices in local Chinese market
Product |
Spec. |
Place of Origin |
Market price excluding tax (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
Domestic iron ore concentrate |
damp base (iron content: 66%) |
Tangshan |
420 |
65 |
↔ |
damp base (iron content: 66%) |
Beipiao |
360 |
56 |
↔ |
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 |
505-515 |
78-80 |
↓20 |
Brazil fines |
63,5 |
Brazil |
395-405 |
61-63 |
↓30 |
|
Yandi fines |
58 / 59 |
Australia |
365-375 |
57-58 |
↓20 |
|
PB Fines |
62 |
Australia |
495-505 |
77-78 |
↓20 |
|
PB iron ore lump |
61.5 |
Australia |
395-405 |
61-63 |
↓30 |
|
Indian fine ore |
63.5 |
India |
415-425 |
64-66 |
↓20 |
|
Indian fine ore |
63 |
India |
405-415 |
63-64 |
↓20 |
|
Indian fine ore |
62 |
India |
395-405 |
61-63 |
↓20 |
|
Indian fine ore |
61 |
India |
375-385 |
58-60 |
↓20 |
|
Indian fine ore |
59 |
India |
345-355 |
63-55 |
↓20 |
The prices are deal prices in local market.
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.46