During the week ending March 15, prices of import iron ore for China have indicated an overall downward trend, while transaction activity for import iron ore in the past week has been at low levels. At the same time, traders’ offers of domestic production iron ore have remained stable in Liaoning Province, while slight declines have been seen in Tangshan, with overall transaction activity for domestic production ore at low levels.
At present, Indian fine ores of 63.5 percent grade are offered at $74.2/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $97/mt and prices of the same material are at $97/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the tables below.
During the given week, the import iron ore market in China has been characterized by oversupply and so traders have been willing to sell at lower prices. However, the decreasing trend seen in finished steel prices has caused domestic steelmakers to be less eager to conclude purchases of import iron ore. Currently, inventories of import iron ore held by steelmakers are at low levels and so they are expected to step up their purchases soon. Meanwhile, ferrous metal futures prices in China have started to move up in the past two days, which will likely exert a positive impact on import iron ore prices. It is expected that import iron ore prices will likely edge up in the coming week.
Imported iron ore prices
|
Product Name |
Name of Port |
Iron Content % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
|
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
635-645 |
100-102 |
↓28 |
|
Brazil fines |
63,5 |
Brazil |
439-449 |
69-71 |
↓25 |
|
|
Yandi fines |
58 / 59 |
Australia |
432-442 |
68-70 |
↓20 |
|
|
PB fines |
61,5 |
Australia |
490-500 |
78-79 |
↓33 |
|
|
PB iron ore lump |
62 |
Australia |
620-630 |
98-100 |
↓28 |
|
|
Indian fine ore |
63,5 |
India |
463-473 |
73-75 |
↓20 |
|
|
Indian fine ore |
63 |
India |
453-463 |
72-73 |
↓20 |
|
|
Indian fine ore |
62 |
India |
433-443 |
69-70 |
↓20 |
|
|
Indian fine ore |
61 |
India |
413-423 |
65-67 |
↓20 |
|
|
Indian fine ore |
59 |
India |
311-321 |
49-51 |
↓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 |
520 |
82 |
↓15 |
|
damp base (iron content: 66%) |
Beipiao |
520 |
82 |
0 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = RMB 6.32