As of June 29, prices of import iron ore for China have indicated increases on week-on-week basis, while transaction activity for import iron ore in the past week has been at medium levels. At the same time, traders’ offers of domestic production iron ore in Tangshan and Liaoning Province have moved up slightly, with transaction activity for domestic production ore at low-to-medium levels.
At present, Indian fine ores of 63.5 percent grade are offered at $64.6/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $85/mt and prices of the same material are at $73/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, there have been many inquiries made for import iron ore by Chinese buyers, resulting in medium levels of transaction activity. Meanwhile, iron ore futures prices in China have increased, exerting a positive impact on iron ore prices in the spot market.
Imported iron ore prices
|
Product Name |
Name of Port |
Iron Content % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
|
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
610-620 |
90-91 |
↑10 |
|
Brazil fines |
63,5 |
Brazil |
422-432 |
62-64 |
↑20 |
|
|
Yandi fines |
58 / 59 |
Australia |
390-400 |
58-59 |
↑15 |
|
|
PB fines |
61,5 |
Australia |
445-455 |
66-67 |
↑20 |
|
|
PB iron ore lump |
62 |
Australia |
595-605 |
88-89 |
↑10 |
|
|
Indian fine ore |
63,5 |
India |
440-450 |
65-66 |
↑10 |
|
|
Indian fine ore |
63 |
India |
430-440 |
63-65 |
↑10 |
|
|
Indian fine ore |
62 |
India |
410-420 |
60-62 |
↑10 |
|
|
Indian fine ore |
61 |
India |
390-400 |
58-59 |
↑10 |
|
|
Indian fine ore |
59 |
India |
315-325 |
46-48 |
↑15 |
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 |
500 |
74 |
↑10 |
|
damp base (iron content: 66%) |
Beipiao |
430 |
63 |
↑10 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = RMB 6.78