During the week ending April 21, prices of import iron ore in China have indicated a more rapid rising trend, while transaction activity for import iron ore has been at good levels. At the same time, traders’ offers of domestic production iron ore in Tangshan and Liaoning Province have also increased, with transaction activity for domestic production ore at decent levels.
At present, Indian fine ores of 63.5 percent grade are offered at $78.6/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $69.4/mt and prices of the same material are at $58.6/mt in Beipiao, Liaoning, both excluding VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, iron ore futures prices at Dalian Commodity Exchange (DCE) have indicated a rising trend, providing further support for the upward trend of iron ore spot prices. Meanwhile, finished steel prices have risen sharply, providing strong support for prices of iron ore. Against this backdrop, steelmakers have increased their production capacity utilization rates, boosting demand for iron ore. It is thought that iron ore prices in the Chinese market will most likely continue their upward trend in the coming week, though the possibility of some corrections is not excluded given the significant increases seen recently in iron ore prices.
Product |
Spec. |
Place of Origin |
Market price excluding tax (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
Domestic iron ore concentrate |
damp base (iron content: 66%) |
Tangshan |
450 |
70 |
↑60 |
damp base (iron content: 66%) |
Beipiao |
380 |
59 |
↑60 |
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) |
| PB iron ore lump | Qingdao | 63/63.5 | Australia | 615-625 | 95-97 | ↑60 |
| Brazil fines | 63,5 | Brazil | 495-505 | 77-78 | ↑60 | |
| Yandi fines | 58 / 59 | Australia | 445-455 | 69-71 | ↑50 | |
| PB Fines | 62 | Australia | 605-615 | 94-95 | ↑60 | |
| PB iron ore lump | 61.5 | Australia | 495-505 | 77-78 | ↑50 | |
| Indian fine ore | 63.5 | India | 505-515 | 78-80 | ↑60 | |
| Indian fine ore | 63 | India | 495-505 | 77-78 | ↑60 | |
| Indian fine ore | 62 | India | 485-495 | 75-77 | ↑60 | |
| Indian fine ore | 61 | India | 475-485 | 74-75 | ↑60 | |
| Indian fine ore | 59 | India | 445-455 | 69-71 | ↑60 |
The prices are deal prices in local market.
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.47