During the week ending March 8, prices of import iron ore for China have seen an overall downward 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 have remained stable in Tangshan, while slight rises have been seen in Liaoning Province, with overall transaction activity for domestic production ore at low levels.
At present, Indian fine ores of 63.5 percent grade are offered at $77.1/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $99/mt and prices of the same material are at $96/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, import iron ore prices have moved down as most steelmakers had built up stocks ahead of the Chinese New Year holiday. Following the rapid price rises in the first week after holiday, steelmakers have been unwilling to accept the higher prices for import iron ore. After the holiday, iron ore traders had offered higher prices to see whether the market would accept them, resulting in artificially high import iron ore prices. It is thought that in the coming week import iron ore prices in the Chinese market will likely soften, though by limited margins.
Imported iron ore prices
Product Name |
Name of Port |
Iron Content % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
663-673 |
105-106 |
↓12 |
Brazil fines |
63,5 |
Brazil |
464-474 |
73-75 |
↓12 |
|
Yandi fines |
58 / 59 |
Australia |
452-462 |
71-73 |
↓15 |
|
PB fines |
61,5 |
Australia |
523-533 |
82-84 |
↓22 |
|
PB iron ore lump |
62 |
Australia |
648-658 |
102-104 |
↓12 |
|
Indian fine ore |
63,5 |
India |
483-493 |
76-78 |
↓15 |
|
Indian fine ore |
63 |
India |
473-483 |
75-76 |
↓15 |
|
Indian fine ore |
62 |
India |
453-463 |
71-73 |
↓15 |
|
Indian fine ore |
61 |
India |
433-443 |
68-70 |
↓15 |
|
Indian fine ore |
59 |
India |
326-336 |
51-53 |
↓15 |
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 |
535 |
84 |
0 |
damp base (iron content: 66%) |
Beipiao |
520 |
82 |
↑10 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = RMB 6.34