Chinese iron ore market follows mostly stable trend

Thursday, 26 January 2017 14:57:19 (GMT+3)   |   Shanghai
       

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


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