Import iron ore prices for China move on a rising trend

Thursday, 24 August 2017 15:15:44 (GMT+3)   |   Shanghai
       

During the past week ending August 24, prices of import iron ore for China have indicated an upward 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 also increased in Tangshan and Liaoning Province, with transaction activity for domestic production ore at medium levels.

At present, Indian fine ores of 63.5 percent grade are offered at $76.6/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $98/mt and prices of the same material are at $86/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, iron ore futures prices at the Shanghai Futures Exchange (SHFE) have increased, providing support for the iron ore spot market. Traders have been making inquiries in particular for high Fe-content iron ore, while steelmakers have been buying iron ore to replenish their stocks. Inventory levels at Chinese ports have decreased, which will exert a positive impact on the iron ore price trend. It is thought that iron ore prices in the Chinese market will likely continue to move in an upward direction 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

763-773

115-116

↑18

Brazil fines

63,5

Brazil

523-533

79-80

↑8

Yandi fines

58 / 59

Australia

520-530

78-80

↑35

PB fines

61,5

Australia

585-595

88-89

↑3

PB iron ore lump

62

Australia

748-758

112-114

↑18

Indian fine ore

63,5

India

505-515

76-77

↑15

Indian fine ore

63

India

495-505

74-76

↑15

Indian fine ore

62

India

475-485

71-73

↑15

Indian fine ore

61

India

455-465

68-70

↑15

Indian fine ore

59

India

370-380

56-57

↑10

 

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

555

83

↑10

damp base (iron content: 66%)

Beipiao

490

74

↑10

 

17 percent VAT is excluded in all prices and all prices are ex-warehouse. 

$1 = RMB 6.66


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