Import iron ore prices for China continue their upward trend 

During the past week ending August 10, prices of import iron ore for China have continued to move on an upward trend, while transaction activity for import iron ore in the past week has been at decent levels. At the same time, traders’ offers of domestic production iron ore have also increased in Tangshan, though remaining stable in Liaoning Province, with transaction activity for domestic production ore at medium levels.

At present, Indian fine ores of 63.5 percent grade are offered at $74.6/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $94/mt and prices of the same material are at $83/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.

During the given week, following the blast furnace output cuts for the coming winter season announced by the authorities in Hebei Province, semi-finished steel and finished steel prices in the Chinese domestic market have indicated significant rises, providing support for iron ore prices. Steelmakers have been eager to conclude purchases, with some iron ore products seeing relatively bigger price rises due to better demand. Blast furnace capacity utilization rates are still at high levels, positively influencing the iron ore price trend. However, following the big rises seen in iron ore prices this week, buyers will likely be more cautious about making purchases. It is thought that iron ore prices in the Chinese market will move sideways in the coming week.

Imported iron ore prices

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  

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

$1 = RMB 6.66