During the week ending June 18, prices of imported iron ore in China have mostly indicated a stable trend, though slight upticks have been seen for Brazilian and Yandi fines, while overall transaction activity for imported iron ore has been at decent levels. At the same time, traders' offers of domestic production iron ore in Tangshan and Liaoning Province have followed a stable trend, while demand for domestic production iron ore has been very sluggish.
At present, Indian fine ores of 63.5 percent grade are offered at $74.2/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $74.2/mt and prices of the same material are at $59.7/mt in Beipiao, Liaoning, both excluding VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
With the Chinese steel industry having entered its offseason, local finished steel prices have continued to decline in the past week, and so domestic steelmakers have been pushing for lower prices for iron ore. Iron ore futures prices have indicated a decreasing trend in the given week, also exerting some downward pressure on iron ore prices in the spot market. Furthermore, increased iron ore supplies are expected to arrive at Chinese ports in the coming period, also constituting a negative factor for the iron ore price trend. It is thought that iron ore prices in the Chinese domestic market will likely see a slight downtrend in the week ahead.
Imported iron ore prices in local Chinese market
| Product Name | Name of Port | Iron Content % | Place of origin | Truck loaded price (RMB/mt) | Price($/mt) | Weekly Change (RMB/mt) |
| PB iron ore lump | Qingdao | 62 | Australia | 530-550 | 85-86 | 0 |
| Brazil fines | 63,5 | Brazil | 470-480 | 73-77 | ↑10 | |
| Yandi fines | 58 / 59 | Australia | 420-440 | 68-71 | ↑10 | |
| PB Fines | 61,5 | Australia | 450-470 | 72-76 | 0 | |
| PB iron ore lump | 62/63 | Australia | 620-640 | 100-103 | 0 | |
| Indian fine ore | 63.5 | India | 450-460 | 72-74 | 0 | |
| Indian fine ore | 63 | India | 440-460 | 71-74 | 0 | |
| Indian fine ore | 62 | India | 430-450 | 69-72 | 0 | |
| Indian fine ore | 61 | India | 410-430 | 66-69 | 0 | |
| Indian fine ore | 59 | India | 380-400 | 61-64 | 0 |
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 | 460 | 74 | 0 |
| damp base (iron content: 66%) | Beipiao | 370 | 60 | 0 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = RMB 6.21