During the week ending November 19, prices of imported iron ore in China have indicated an overall downtrend, while transaction activity for imported iron ore has generally been slacker than in the previous week and is currently at low levels. At the same time, traders' offers of domestic production iron ore in Tangshan have softened further, with prices of domestic production iron ore in Liaoning Province remaining stable, while overall demand for domestic production iron ore has been sluggish.
At present, Indian fine ores of 63.5 percent grade are offered at $56.5/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $61.2/mt and prices of the same material are at $56.5/mt in Beipiao, Liaoning, both excluding VAT. Prices of domestic production and imported iron ore in China are presented in the tables below.
During the given week, Chinese steelmakers have slowed down their iron ore purchasing activities after replenishing their stocks in the previous week, exerting a negative impact on iron ore prices. With the declines in import iron ore prices, Chinese domestic production iron ore has attracted less interest from buyers, resulting in a drop in prices of ore in the Tangshan district. Ore production in Liaoning Province has decreased and so local prices there have remained stable. It is expected that iron ore prices in the Chinese market will move on a slight downtrend in the coming week as no significant improvement has been seen in the finished steel market.
Domestic iron ore prices in local Chinese market
Product |
Spec. |
Place of Origin |
Market price excluding tax (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
Domestic iron ore concentrate |
damp base (iron content: 66%) |
Tangshan |
390 |
61 |
↓20 |
damp base (iron content: 66%) |
Beipiao |
360 |
56 |
0 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
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) |
| PB iron ore lump | Qingdao | 63/63.5 | Australia | 395-405 | 62-63 | ↓20 |
| Brazil fines | 63,5 | Brazil | 355-365 | 56-57 | ↓5 | |
| Yandi fines | 58 / 59 | Australia | 315-325 | 49-51 | ↓10 | |
| PB Fines | 62 | Australia | 375-385 | 59-60 | ↓10 | |
| PB iron ore lump | 61.5 | Australia | 340-350 | 53-55 | ↓10 | |
| Indian fine ore | 63.5 | India | 355-365 | 56-57 | ↓10 | |
| Indian fine ore | 63 | India | 345-355 | 54-56 | ↓10 | |
| Indian fine ore | 62 | India | 330-340 | 52-53 | ↓10 | |
| Indian fine ore | 61 | India | 315-330 | 49-52 | ↓10 | |
| Indian fine ore | 59 | India | 280-290 | 44-45 | ↓10 |
The prices are deal prices in local market.
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.38