During the week ending October 19, prices of import iron ore for China have continued to move on 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, while remaining stable in 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 $62.7/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $83/mt and prices of the same material are at $82/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, Chinese steelmakers have been unwilling to conclude purchases for import iron ore and are only making purchases as needed as they are mostly cautious on the future prospects for the iron ore market. Supplies held by overseas iron ore miners are plentiful, which has exerted a negative impact on iron ore prices. Meanwhile, environmental measures restricting production by blast furnaces will negatively affect demand for iron ore. It is thought that import iron ore prices for the Chinese market will likely move down in the coming week.
Imported iron ore prices
|
Product Name |
Name of Port |
Iron Content % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
|
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
715-725 |
108-109 |
↓25 |
|
Brazil fines |
63,5 |
Brazil |
403-413 |
61-62 |
↓17 |
|
|
Yandi fines |
58 / 59 |
Australia |
420-430 |
63-65 |
↓8 |
|
|
PB fines |
61,5 |
Australia |
460-470 |
69-71 |
↓13 |
|
|
PB iron ore lump |
62 |
Australia |
685-695 |
103-105 |
↓25 |
|
|
Indian fine ore |
63,5 |
India |
410-420 |
62-63 |
↓15 |
|
|
Indian fine ore |
63 |
India |
400-410 |
60-62 |
↓15 |
|
|
Indian fine ore |
62 |
India |
380-390 |
57-59 |
↓15 |
|
|
Indian fine ore |
61 |
India |
360-370 |
54-56 |
↓15 |
|
|
Indian fine ore |
59 |
India |
280-290 |
42-44 |
↓15 |
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 |
470 |
71 |
↓5 |
|
damp base (iron content: 66%) |
Beipiao |
465 |
70 |
0 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = RMB 6.63