During the week ending September 28, prices of import iron ore for China have continued to indicate an overall downward trend, while transaction activity for import iron ore in the past week has been at low levels. At the same time, traders’ offers of domestic production iron ore have decreased in Tangshan and Liaoning Province, with transaction activity for domestic production ore also at low levels.
At present, Indian fine ores of 63.5 percent grade are offered at $66.7/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $84/mt and prices of the same material are at $85/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, steelmakers have been unwilling to conclude purchases of iron ore, only making some purchases in line with their needs. Due to environmental protection measures implemented in certain regions of China, some steelmakers have reduced their blast furnace capacity utilization, resulting in reduced demand for iron ore. Meanwhile, prices of Chinese domestic production iron ore have also declined, with traders being willing to sell at lower prices. As the long National Day Holiday (October 1-8) is approaching, demand will remain slack. It is thought that iron ore prices in the Chinese market may move down after the holiday.
Imported iron ore prices
|
Product Name |
Name of Port |
Iron Content % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
|
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
762-772 |
114-116 |
↓42 |
|
Brazil fines |
63,5 |
Brazil |
445-455 |
67-68 |
↓47 |
|
|
Yandi fines |
58 / 59 |
Australia |
440-450 |
66-67 |
↓40 |
|
|
PB fines |
61,5 |
Australia |
490-500 |
73-75 |
↓50 |
|
|
PB iron ore lump |
62 |
Australia |
732-742 |
109-111 |
↓44 |
|
|
Indian fine ore |
63,5 |
India |
440-450 |
66-67 |
↓35 |
|
|
Indian fine ore |
63 |
India |
430-440 |
64-66 |
↓35 |
|
|
Indian fine ore |
62 |
India |
410-420 |
61-63 |
↓35 |
|
|
Indian fine ore |
61 |
India |
390-400 |
58-60 |
↓35 |
|
|
Indian fine ore |
59 |
India |
305-315 |
46-47 |
↓21 |
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 |
480 |
72 |
↓50 |
|
damp base (iron content: 66%) |
Beipiao |
485 |
73 |
↓5 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = RMB 6.67