Xinhua-China Iron Ore Price Index for 62% Fe import ore down 3 points

Friday, 26 July 2019 12:05:35 (GMT+3)   |   Shanghai
       

As of July 22, the Xinhua-China Iron Ore Price Index for imported iron ore with 62 percent iron content was at 119 points, down three points compared to July 15, while the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 110 points on the date in question, also down three points over the same period, as announced by China's Xinhua News Agency. In addition, on July 22 inventory of iron ore at 33 major Chinese ports amounted to 99.41 million mt, up 2.34 percent week on week, according to the same source.

During the given week, more import iron ore arrived at Chinese ports, resulting in sufficient iron ore supply in the Chinese market. Meanwhile, iron ore futures prices at Dalian Commodity Exchange (DCE) moved down, exerting a negative impact on iron ore prices in the spot market. At the same time, traders in the iron ore market have been willing to lower prices to stimulate sales activities. At the same time, steelmakers’ profitability has shrunk, which will negatively affect the iron ore market. It is expected that import iron ore prices in the Chinese market will soften in the coming week.


Similar articles

Ex-Asia slab prices differ depending on destination, more declines expected

28 Mar | Flats and Slab

Chinese HDG export prices mainly stable, with negative bias in some offers

28 Mar | Flats and Slab

No halt to downtrend in SE Asia’s import billet market, more traders going short

28 Mar | Longs and Billet

Local coke prices in China fall again, decline likely to halt next week

22 Mar | Scrap & Raw Materials

Chinese HDG export prices fall slightly, but local market improves

21 Mar | Flats and Slab

Vietnam’s Formosa cuts HRC prices again in March as gap with China remains big

19 Mar | Flats and Slab

Chinese HDG export prices decline amid fall in local and futures prices

14 Mar | Flats and Slab

Ex-Asia wire rod prices fall, market awaits more output cuts in China to slow downtrend

14 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 14, 2024

14 Mar | Longs and Billet

Vietnam’s Formosa cuts local HRC prices less than expected as import prices dip sharply again

13 Mar | Flats and Slab