During the week ending November 9, prices of import iron ore for China have mostly indicated a rising trend, while transaction activity for import iron ore in the past week has been at low-to-medium levels. At the same time, traders’ offers of domestic production iron ore in Tangshan and Liaoning Province have remained stable, with transaction activity for domestic production ore also at low-to-medium levels.
At present, Indian fine ores of 63.5 percent grade are offered at $62.6/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 $82/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, import iron ore prices have risen slightly in China with support from increases in iron ore futures prices. However, inventory levels of iron ore at Chinese ports have increased, exerting negative pressure on the iron ore market. As winter production cuts in China will start to be implemented as of November 15, demand for iron ore is expected to slacken. It is thought that iron ore prices in the Chinese market will move on a soft trend in the coming week.
Imported iron ore prices
|
Product Name |
Name of Port |
Iron Content % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
|
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
665-675 |
100-102 |
↓5 |
|
Brazil fines |
63,5 |
Brazil |
390-400 |
59-60 |
0 |
|
|
Yandi fines |
58 / 59 |
Australia |
407-417 |
61-63 |
↑5 |
|
|
PB fines |
61,5 |
Australia |
468-478 |
71-72 |
↑16 |
|
|
PB iron ore lump |
62 |
Australia |
640-650 |
96-98 |
0 |
|
|
Indian fine ore |
63,5 |
India |
410-420 |
62-63 |
↑8 |
|
|
Indian fine ore |
63 |
India |
400-410 |
60-62 |
↑8 |
|
|
Indian fine ore |
62 |
India |
380-390 |
57-59 |
↑8 |
|
|
Indian fine ore |
61 |
India |
360-370 |
54-56 |
↑8 |
|
|
Indian fine ore |
59 |
India |
280-290 |
42-44 |
↑13 |
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 |
0 |
|
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 6.64