Import iron ore prices in China move downwards

Thursday, 21 September 2017 14:49:54 (GMT+3)   |   Shanghai
       

During the week ending September 21, prices of import iron ore for China have mostly decreased, while transaction activity for import iron ore in the past week has been at low-to-medium levels. At the same time, traders’ offers of domestic production iron ore have decreased in Tangshan and remained stable in Liaoning Province, with transaction activity for domestic production ore also at low-to-medium levels.

At present, Indian fine ores of 63.5 percent grade are offered at $72.8/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 $87/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, demand for iron ore has been slacker due to environmental protection measures being introduced in Handan, Hebei Province and Beijing. Steelmakers’ inventories of iron ore are on the high side and so they have been less willing to conclude purchases. Moreover, iron ore futures prices at Dalian Commodity Exchange have indicated significant decreases, exerting a negative impact on iron ore prices in the spot market. It is thought that iron ore prices in the Chinese market will move down further in the coming week.

 

Imported iron ore prices

 

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

804-814

122-123

0

Brazil fines

63,5

Brazil

492-502

75-76

↓23

Yandi fines

58 / 59

Australia

480-490

73-74

↓15

PB fines

61,5

Australia

540-550

82-83

↓28

PB iron ore lump

62

Australia

776-786

118-119

↓5

Indian fine ore

63,5

India

475-485

72-74

↓23

Indian fine ore

63

India

465-475

71-72

↓23

Indian fine ore

62

India

445-455

68-69

↓23

Indian fine ore

61

India

425-445

64-67

↓23

Indian fine ore

59

India

326-336

49-51

↓17

 

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

530

80

↓5

damp base (iron content: 66%)

Beipiao

490

74

0

 

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

$1 = RMB 6.60

 


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