During the week ending July 7, prices of import iron ore in China have indicated an slight upward trend, while transaction activity for import iron ore has been at low 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 still at low levels.
At present, Indian fine ores of 63.5 percent grade are offered at $52.6/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $60.2/mt and prices of the same material are at $49.6/mt in Beipiao, Liaoning, both excluding VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, rebounding trends in semi-finished steel and scrap prices have exerted a positive impact on import iron ore offer prices. However, steelmakers' consumption and purchases have not seen significant improvement, resulting in limited price rise in import iron ore prices. Meanwhile, domestic production iron ore prices have seen declines, attracting more buying orders, improving the transaction activities. Since bullish sentiment still prevails in finished steel market, it is thought that import iron ore prices will likely continue to edge up, though within limited range in the coming week.
Domestic iron ore prices in local Chinese market
| Product | Spec. | Place of Origin | Market price excluding tax (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
| Domestic iron ore concentrate | damp base (iron content: 66%) | Tangshan | 400 | 60 | 0 |
| damp base (iron content: 66%) | Beipiao | 330 | 50 | 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) |
| PB iron ore lump | Qingdao | 63/63.5 | Australia | 545-555 | 81-83 | ↑10 |
| Brazil fines | 63,5 | Brazil | 415-425 | 62-63 | ↑10 | |
| Yandi fines | 58 / 59 | Australia | 355-365 | 53-54 | ↑10 | |
| PB Fines | 62 | Australia | 535-545 | 80-81 | ↑10 | |
| PB iron ore lump | 61.5 | Australia | 415-425 | 62-63 | ↑10 | |
| Indian fine ore | 63.5 | India | 345-355 | 51-53 | ↑10 | |
| Indian fine ore | 63 | India | 335-345 | 50-51 | ↑10 | |
| Indian fine ore | 62 | India | 325-335 | 48-50 | ↑10 | |
| Indian fine ore | 61 | India | 315-325 | 47-48 | ↑10 | |
| Indian fine ore | 59 | India | 285-295 | 42-44 | ↑10 |
The prices are deal prices in local market.
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.69