During the week ending January 26, prices of import iron ore for China have mostly indicated a stable trend with just some slight fluctuations, 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 and Liaoning Province have also remained stable, with transaction activity for domestic production ore at relatively low levels.
At present, Indian fine ores of 63.5 percent grade are offered at $87.1/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $93.4/mt and prices of the same material are at $78.1/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, iron ore prices in the Chinese market have indicated a stable trend in line with domestic finished steel and steel billet prices. Meanwhile, Chinese steelmakers’ purchasing activities for iron ore have been very slack. It is expected that iron ore prices in the Chinese market will indicate a stable trend during the Chinese New Year holiday (Jan. 27- Feb. 2) and during the period immediately after the holiday.
Imported iron ore prices in local Chinese market
Product Name | Name of Port | Iron Content % | Place of origin | Truck loaded price (RMB/mt) | Price($/mt) | Weekly Change (RMB/mt) |
Newman iron ore lump | Qingdao | 63/63.5 | Australia | 685-695 | 100-101 | ↑10 |
Brazil fines | 63,5 | Brazil | 625-635 | 91-92 | ↓10 | |
Yandi fines | 58 / 59 | Australia | 535-545 | 78-79 | ↓10 | |
PB fines | 61,5 | Australia | 635-645 | 92-94 | ↑20 | |
PB iron ore lump | 62 | Australia | 665-675 | 97-98 | 0 | |
Indian fine ore | 63,5 | India | 595-605 | 87-88 | ↑10 | |
Indian fine ore | 63 | India | 585-595 | 85-87 | ↑10 | |
Indian fine ore | 62 | India | 565-575 | 83-84 | ↑10 | |
Indian fine ore | 61 | India | 545-555 | 79-81 | ↑10 | |
Indian fine ore | 59 | India | 405-415 | 59-60 | 0 |
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 | 550 | 80 | 0 |
damp base (iron content: 66%) | Beipiao | 460 | 67 | 0 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = RMB 6.87