During the week ending September 29, prices of import iron ore for China have indicated an overall upward trend, while transaction activity for import iron ore has been at medium levels. At the same time, traders' offers of domestic production iron ore in Tangshan and Liaoning Province have moved on a stable trend, with transaction activity for domestic production ore at medium levels.
At present, Indian fine ores of 63.5 percent grade are offered at $61.6/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $72.1/mt and prices of the same material are at $58.6/mt in Beipiao, Liaoning, both excluding VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, Chinese steelmakers' purchases before the approaching National Day Holiday (October 1-7) have provided support for iron ore prices. It is thought that iron ore prices will likely move on a stable trend during the holiday period.
Domestic iron ore prices in local Chinese market
Product |
Spec. |
Place of Origin |
Market price excluding tax (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
Domestic iron ore concentrate |
damp base (iron content: 66%) |
Tangshan |
480 |
72 |
0 |
damp base (iron content: 66%) |
Beipiao |
390 |
58 |
0 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
Imported iron ore prices in local Chinese market
Product Name |
Name of Port |
Iron Content % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
PB iron ore lump |
Qingdao |
63/63.5 |
Australia |
545-555 |
82-83 |
↑10 |
Brazil fines |
63,5 |
Brazil |
425-435 |
64-65 |
↑10 |
|
Yandi fines |
58 / 59 |
Australia |
375-385 |
56-58 |
↑10 |
|
PB Fines |
62 |
Australia |
535-545 |
80-82 |
↑10 |
|
PB iron ore lump |
61.5 |
Australia |
435-445 |
65-67 |
↑10 |
|
Indian fine ore |
63.5 |
India |
405-415 |
61-62 |
↑10 |
|
Indian fine ore |
63 |
India |
395-405 |
59-61 |
↑10 |
|
Indian fine ore |
62 |
India |
385-395 |
58-59 |
↑10 |
|
Indian fine ore |
61 |
India |
375-385 |
56-58 |
↑10 |
|
Indian fine ore |
59 |
India |
345-355 |
52-53 |
↑10 |
The prices are deal prices in local market.
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.67