During the week ending June 23, prices of import lump iron ore from Australia in China have indicated an upward trend, though prices of iron ore from other countries have remained on 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 have moved on a stable trend, while prices in Liaoning Province have edged down, with transaction activity for domestic production ore at low levels.
At present, Indian fine ores of 63.5 percent grade are offered at $50.2/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $62.4/mt and prices of the same material are at $51.8/mt in Beipiao, Liaoning, both excluding VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, finished steel prices in China have indicated fluctuations, failing to provide much support for iron ore prices. Meanwhile, steelmakers have reduced their production, decreasing their purchases of iron ore. Market participants in the finished steel and iron ore markets are mostly maintaining a wait-and-see stance, against the backdrop of some uncertainty about the future direction of the iron ore market. It is thought that iron ore prices in the Chinese market will likely move on a fluctuating trend in the coming week.
Domestic iron ore prices in local Chinese market
| Product | Spec. | Place of Origin | Market price excluding tax (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
| Domestic iron ore concentrate | damp base (iron content: 66%) | Tangshan | 410 | 63 | 0 |
| damp base (iron content: 66%) | Beipiao | 340 | 52 | ↓10 |
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 | 505-515 | 77-79 | ↑10 |
| Brazil fines | 63,5 | Brazil | 375-385 | 60-62 | 0 | |
| Yandi fines | 58 / 59 | Australia | 335-345 | 54-55 | 0 | |
| PB Fines | 62 | Australia | 495-505 | 76-77 | ↑10 | |
| PB iron ore lump | 61.5 | Australia | 375-385 | 60-62 | 0 | |
| Indian fine ore | 63.5 | India | 325-335 | 52-54 | 0 | |
| Indian fine ore | 63 | India | 315-325 | 51-52 | 0 | |
| Indian fine ore | 62 | India | 305-315 | 49-51 | 0 | |
| Indian fine ore | 61 | India | 295-305 | 47-49 | 0 | |
| Indian fine ore | 59 | India | 265-275 | 43-44 | 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 6.58