Import iron ore prices in China have seen a downward trend today, Thursday, September 7, while also moving down slightly week on week. In general, iron ore prices have fluctuated within a limited range lately as some steel production restrictions have started to be seen in China and steel demand has failed to improve significantly so far.
Iron ore fines with 62 percent Fe content have decreased by $1.95/mt today to $117.15/mt CFR. This level is $0.95/mt below that seen one week ago. Brazilian iron ore with 65 percent Fe has indicated a drop of $2.35/mt on September 7 to $127.05/mt CFR, while down $1.9/mt week on week, SteelOrbis has learned.
14 deals for a total of 116,000 mt have been concluded at Corex today, including 10,000 mt of 56.5 percent FMG super quality fines and 10,000 mt of Jimblebar blended fines at RMB 770/mt ($107/mt) and RMB 880/mt ($122/mt), both for delivery at Qingdao port.
During the given week, import iron ore prices have fluctuated within a limited range as market players think this is a transitional period before entering the traditional peak season for business. Stimulus policies to boost the real estate sector have bolstered the market mood, while it is reported that production restrictions at steelmakers will be implemented from next week, which has exerted a negative impact on market sentiments. It is thought that import iron ore prices may move sideways in the coming week.
Iron ore futures prices at Dalian Commodity Exchange have decreased by 1.88 percent to RMB 836.5/mt ($116.2/mt) compared to the previous trading day (September 6), while decreasing by RMB 12.5/mt ($5.3/mt) compared to August 31.
As of Thursday, September 7, rebar futures at the Shanghai Futures Exchange are standing at RMB 3,795/mt ($527/mt), increasing by RMB 55/mt ($7.6/mt) or up 1.5 percent since August 31, while decreasing by 0.42 percent compared to the previous trading day (September 6).
Imported iron ore prices in China (week-on-week basis)
|
Product name |
Iron |
Truck loaded price |
Change |
Price |
Change |
|
Newman iron ore lump |
63/63.5 |
1,020 |
+7 |
141.7 |
+0.6 |
|
Yandi fines |
58/59 |
860 |
+12 |
119.5 |
+1.4 |
|
PB Fines |
62 |
913 |
-2 |
126.8 |
-0.6 |
|
PB iron ore lump |
62/63 |
1,022 |
+9 |
142.0 |
+0.9 |
|
Brazil fines |
63 |
920 |
-5 |
127.8 |
-1.0 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
|
Place of origin |
Market price (RMB/mt, Incl. VAT) |
Change |
Price（$/mt) |
Change |
|
Tangshan |
980 |
+12 |
136 |
+1 |
|
Beipiao |
904 |
0 |
126 |
0 |
Price includes VAT.
$1 = RMB 7.1986