Stable trend in import iron ore market in China

Thursday, 17 September 2015 13:48:36 (GMT+3)   |   Shanghai
       

During the week ending September 17, prices of imported iron ore in China have indicated a stable trend, while transaction activity for imported iron ore continued to be at decent levels. At the same time, traders’ offers of domestic production iron ore in Tangshan and Liaoning Province have moved on a stable trend, while overall demand for domestic production iron ore has been better than the previous week.
 
At present, Indian fine ores of 63.5 percent grade are offered at $69.7/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $69.1/mt and prices of the same material are at $56.5/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, declines in finished steel prices in the domestic market dragged down iron ore futures prices. However, the decent iron ore transaction activity in the spot market and  less pressure in the inventory aspect gave certain support to the import iron ore prices for maintaining a stable trend. 

Currently, finished steel prices have failed to meet the expected rise in the traditional peak season of September, which exerted negative pressure on iron ore prices. It is thought that iron ore prices will likely move on a declining trend in the coming period.

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

440

69

0

damp base (iron content: 66%)

Beipiao

360

57

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 570-590 89-93 0
Brazil fines 63,5 Brazil 450-470 71-74 0
Yandi fines 58 / 59 Australia 410-420 64-66 0
PB Fines 62 Australia 470-490 74-77 0
PB iron ore lump 61.5 Australia 440-450 69-71 0
Indian fine ore 63.5 India 440-450 69-71 0
Indian fine ore 63 India 430-440 66-69 0
Indian fine ore 62 India 410-430 64-66 0
Indian fine ore 61 India 400-410 63-64 0
Indian fine ore 59 India 370-390 58-61 0
 
 
The prices are deal prices in local market.  
                                       
17 percent VAT is included in all prices and all prices are ex-warehouse.
 
$1 = RMB 6.37


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