During the week ending October 12, prices of import iron ore for China have continued to decline, 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 $65.3/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 $83/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, production cuts in the domestic finished steel market due to environmental protection measures have negatively impacted the trend of import iron ore prices. Chinese steelmakers are mostly maintaining a wait-and-see stance towards purchases of iron ore. In addition, the current rainy weather has had a negative impact on sales activity for finished steel and iron ore. It is thought that iron ore prices in the Chinese domestic market will continue to move down in the coming week.
Imported iron ore prices
Product Name |
Name of Port |
Iron Content % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
740-750 |
112-114 |
↓22 |
Brazil fines |
63,5 |
Brazil |
420-430 |
64-65 |
↓25 |
|
Yandi fines |
58 / 59 |
Australia |
428-438 |
65-67 |
↓12 |
|
PB fines |
61,5 |
Australia |
473-483 |
72-73 |
↓17 |
|
PB iron ore lump |
62 |
Australia |
710-720 |
108-109 |
↓22 |
|
Indian fine ore |
63,5 |
India |
425-435 |
65-66 |
↓15 |
|
Indian fine ore |
63 |
India |
415-425 |
63-65 |
↓15 |
|
Indian fine ore |
62 |
India |
395-405 |
60-62 |
↓15 |
|
Indian fine ore |
61 |
India |
375-385 |
57-59 |
↓15 |
|
Indian fine ore |
59 |
India |
295-305 |
45-46 |
↓10 |
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 |
475 |
72 |
↓5 |
damp base (iron content: 66%) |
Beipiao |
465 |
69 |
↓20 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = RMB 6.59