During the week ending August 4, prices of import iron ore in China have indicated an overall upward trend, while transaction activity for import iron ore has been better than in the previous week, though remaining on the slack side. At the same time, traders’ offers of domestic production iron ore in Tangshan have moved on a slight rising trend, though their in Liaoning Province are unchanged week on week, with transaction activity for domestic production ore currently at decent levels.
At present, Indian fine ores of 63.5 percent grade are offered at $58.7/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $66.3/mt and prices of the same material are at $52.7/mt in Beipiao, Liaoning, both excluding VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, the rising trend of prices of finished steel and semi-finished steel in China have provided support for iron ore prices, with both miners and traders deciding to increase their iron ore sales prices. Meanwhile, Chinese steelmakers have stepped up their purchases of import iron ore in order to replenish their inventories, resulting in some improvement in transaction activities. On the other hand, in the past two days, iron ore futures prices in China have indicated a declining trend. It is expected that iron ore prices in the Chinese market will likely indicate some small fluctuations in the coming week.
Domestic iron ore prices in local Chinese market
| Product | Spec. | Place of Origin | Market price excluding tax (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
| Domestic iron ore concentrate | damp base (iron content: 66%) | Tangshan | 440 | 67 | ↑10 |
| damp base (iron content: 66%) | Beipiao | 350 | 53 | 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 | 575-585 | 87-89 | ↑20 |
| Brazil fines | 63,5 | Brazil | 455-465 | 69-70 | ↑20 | |
| Yandi fines | 58 / 59 | Australia | 395-405 | 60-61 | ↑20 | |
| PB Fines | 62 | Australia | 565-575 | 85-87 | ↑20 | |
| PB iron ore lump | 61.5 | Australia | 455-465 | 69-70 | ↑20 | |
| Indian fine ore | 63.5 | India | 385-395 | 58-60 | ↑10 | |
| Indian fine ore | 63 | India | 375-385 | 57-58 | ↑10 | |
| Indian fine ore | 62 | India | 365-375 | 55-57 | ↑10 | |
| Indian fine ore | 61 | India | 355-365 | 54-55 | ↑10 | |
| Indian fine ore | 59 | India | 325-335 | 49-51 | ↑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 6.64