During the week ending December 8, prices of import iron ore for China have continued to indicate an upward trend, while transaction activity for import iron ore has been at medium levels. At the same time, traders’ offers of domestic production iron ore in Tangshan and Liaoning Province have remained stable, with transaction activity for domestic production ore at medium levels.
At present, Indian fine ores of 63.5 percent grade are offered at $76.9/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $76.9/mt and prices of the same material are at $63.9/mt in Beipiao, Liaoning, both excluding VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, finished steel prices in China have continued to rise, providing support for the upward movement of iron ore prices. Meanwhile, the shutting down of intermediate frequency melting furnaces which use scrap as raw material, within the scope of environmental protection measures, has boosted demand for iron ore. Miners and iron ore traders are currently optimistic as regards the future prospects for the iron ore market. It is expected that iron ore prices in the Chinese market will likely edge up in the coming week.
Domestic iron ore prices in local Chinese market
| Product | Spec. | Place of Origin | Market price excluding tax (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
| Domestic iron ore concentrate | damp base (iron content: 66%) | Tangshan | 530 | 77 | 0 |
| damp base (iron content: 66%) | Beipiao | 440 | 64 | 0 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
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) |
| Newman iron ore lump | Qingdao | 63/63.5 | Australia | 675-685 | 98-100 | ↑20 |
| Brazil fines | 63,5 | Brazil | 635-645 | 92-94 | ↑10 | |
| Yandi fines | 58 / 59 | Australia | 545-555 | 79-81 | ↑10 | |
| PB fines | 61.5 | Australia | 635-645 | 92-94 | ↑10 | |
| PB iron ore lump | 62 | Australia | 665-675 | 97-98 | ↑20 | |
| Indian fine ore | 63.5 | India | 525-535 | 76-78 | ↑10 | |
| Indian fine ore | 63 | India | 515-525 | 75-76 | ↑10 | |
| Indian fine ore | 62 | India | 495-505 | 72-73 | ↑20 | |
| Indian fine ore | 61 | India | 475-485 | 69-71 | ↑20 | |
| Indian fine ore | 59 | India | 435-445 | 63-65 | ↑20 |
The prices are deal prices in local market.
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.88