During the week ending April 20, average prices of import iron ore for China have indicated significant declines, while transaction activity for import iron ore has been at low-to-medium levels. At the same time, traders’ offers of domestic production iron ore have also indicated downward movement, 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 $64/mt in Beipiao, Liaoning, both excluding VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, the soft trends in Chinese domestic finished steel and semi-finished steel markets have continued to impact prices of both domestic and import iron ore in the Chinese market. Negative sentiment prevails in the market and steelmakers have been unwilling to conclude purchases of iron ore, resulting in a slackening of activity in the market. With the downward movement of domestic finished steel prices having slowed down, it is expected that iron ore prices in China will just edge down slightly in the coming week.
Imported iron ore prices
| Product Name | Name of Port | Iron Content % | Place of origin | Truck loaded price (RMB/mt) | Price($/mt) | Weekly Change (RMB/mt) |
| Newman iron ore lump | Qingdao | 63/63.5 | Australia | 545-555 | 79-81 | ↓60 |
| Brazil fines | 63,5 | Brazil | 485-495 | 70-72 | ↓70 | |
| Yandi fines | 58 / 59 | Australia | 385-395 | 56-57 | ↓70 | |
| PB fines | 61,5 | Australia | 475-485 | 69-70 | ↓70 | |
| PB iron ore lump | 62 | Australia | 525-535 | 76-78 | ↓60 | |
| Indian fine ore | 63,5 | India | 485-495 | 70-72 | ↓50 | |
| Indian fine ore | 63 | India | 475-485 | 69-70 | ↓50 | |
| Indian fine ore | 62 | India | 455-465 | 66-67 | ↓50 | |
| Indian fine ore | 61 | India | 435-445 | 63-65 | ↓50 | |
| Indian fine ore | 59 | India | 295-305 | 43-44 | ↓30 |
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 | ↓120 |
| damp base (iron content: 66%) | Beipiao | 380 | 55 | ↓60 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = RMB 6.88