As of June 8, prices of import iron ore for China have mostly softened on week-on-week basis, 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 have indicated a slight downtrend, while offers in Liaoning Province have remained stable, with transaction activity for domestic production ore at low-to-medium levels.
At present, Indian fine ores of 63.5 percent grade are offered at $63.1/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 $71/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, import iron ore prices for China first indicated a downward trend but then moved up a little later as steelmakers started to replenish inventories with the approach of the weekend. Meanwhile, inventory levels of lump ore at Chinese ports have increased, weakening the support for lump ore prices. It is thought that iron ore prices in the Chinese market will likely move on a soft trend in the coming week.
Imported iron ore prices
| Product Name | Name of Port | Iron Content % | Place of origin | Truck loaded price (RMB/mt) | Price($/mt) | Weekly Change (RMB/mt) |
| Newman iron ore lump | Qingdao | 63/63.5 | Australia | 605-615 | 89-90 | ↓20 |
| Brazil fines | 63,5 | Brazil | 415-425 | 61-62 | ↓5 | |
| Yandi fines | 58 / 59 | Australia | 380-390 | 56-57 | ↓15 | |
| PB fines | 61,5 | Australia | 430-440 | 63-65 | ↓3 | |
| PB iron ore lump | 62 | Australia | 585-595 | 86-88 | ↓15 | |
| Indian fine ore | 63,5 | India | 430-440 | 63-65 | ↓5 | |
| Indian fine ore | 63 | India | 420-430 | 62-63 | ↓5 | |
| Indian fine ore | 62 | India | 400-410 | 59-60 | ↓5 | |
| Indian fine ore | 61 | India | 380-390 | 56-57 | ↓5 | |
| Indian fine ore | 59 | India | 285-295 | 42-43 | 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 | 490 | 72 | ↓30 |
| damp base (iron content: 66%) | Beipiao | 420 | 62 | 0 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = RMB 6.79