During the week ending February 9, prices of import iron ore for China have indicated a stable 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 also remained stable, with transaction activity for domestic production ore at relatively low levels.
At present, Indian fine ores of 63.5 percent grade are offered at $87.1/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $93.4/mt and prices of the same material are at $78.1/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, iron ore prices in the Chinese market have indicated a stable trend despite the significant fluctuation in the domestic iron ore futures prices. Meanwhile, demand is still slack, with transaction activity still quiet in the market. Some traders have returned to the market after the holiday, but demand for iron ore has not yet improved and time will be needed for it to recover to normal levels. It is thought that iron ore prices in the Chinese market will likely move sideways in the coming week.
Imported iron ore prices in local Chinese market
| Product Name | Name of Port | Iron Content % | Place of origin | Truck loaded price (RMB/mt) | Price($/mt) | Weekly Change (RMB/mt) |
| Newman iron ore lump | Qingdao | 63/63.5 | Australia | 685-695 | 100-101 | 0 |
| Brazil fines | 63,5 | Brazil | 625-635 | 91-92 | 0 | |
| Yandi fines | 58 / 59 | Australia | 535-545 | 78-79 | 0 | |
| PB fines | 61,5 | Australia | 635-645 | 92-94 | 0 | |
| PB iron ore lump | 62 | Australia | 665-675 | 97-98 | 0 | |
| Indian fine ore | 63,5 | India | 595-605 | 87-88 | 0 | |
| Indian fine ore | 63 | India | 585-595 | 85-87 | 0 | |
| Indian fine ore | 62 | India | 565-575 | 82-84 | 0 | |
| Indian fine ore | 61 | India | 545-555 | 79-81 | 0 | |
| Indian fine ore | 59 | India | 405-415 | 59-60 | 0 |
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 | 550 | 80 | 0 |
| damp base (iron content: 66%) | Beipiao | 460 | 67 | 0 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = RMB 6.86