During the week ending April 27, average prices of import iron ore for China have indicated a rising trend, though prices of Indian ore have moved sideways, while transaction activity for import iron ore has improved and is now at medium levels. At the same time, traders' offers of domestic production iron ore have indicated a stable trend, 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 $71.2/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $73/mt and prices of the same material are at $64/mt in Beipiao, Liaoning, both excluding VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, the rebound trend seen in the domestic finished steel and semi-finished steel market has exerting a positive influence on iron ore prices. Amid improved sentiment, Chinese steelmakers are more willing to conclude purchases of iron ore, resulting in better transaction activity in the market, and this has provided increased support for iron ore prices. It is expected that iron ore prices in China will likely move sideways in the coming week.
Imported iron ore prices
Product Name | Name of Port | Iron Content % | Place of origin | Truck loaded price (RMB/mt) | Price($/mt) | Weekly Change (RMB/mt) |
Newman iron ore lump | Qingdao | 63/63.5 | Australia | 595-605 | 86-88 | ↑50 |
Brazil fines | 63,5 | Brazil | 495-505 | 72-73 | ↑10 | |
Yandi fines | 58 / 59 | Australia | 405-425 | 59-62 | ↑30 | |
PB fines | 61,5 | Australia | 495-505 | 72-73 | ↑20 | |
PB iron ore lump | 62 | Australia | 575-585 | 83-85 | ↑50 | |
Indian fine ore | 63,5 | India | 485-495 | 70-72 | 0 | |
Indian fine ore | 63 | India | 475-485 | 69-70 | 0 | |
Indian fine ore | 62 | India | 455-465 | 66-67 | 0 | |
Indian fine ore | 61 | India | 435-445 | 63-65 | 0 | |
Indian fine ore | 59 | India | 295-305 | 43-44 | 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 | 430 | 62 | 0 |
damp base (iron content: 66%) | Beipiao | 380 | 55 | 0 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = RMB 6.88