Import iron ore prices for China move on rising trend

As of July 6, prices of import iron ore for China have increased on week-on-week basis, while transaction activity for import iron ore in the past week has been at medium levels. At the same time, traders’ offers of domestic production iron ore have risen slightly in Tangshan while moving on a stable trend in 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 $66.0/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $87/mt and prices of the same material are at $73/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 have increased, boosting iron ore prices in the spot market. Meanwhile, steel producers’ utilization rates are at high levels, resulting in good demand for iron ore. Following the rapid price rises in the past week, it is expected that iron ore prices will just move up slightly in the coming week.

Imported iron ore prices

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 

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

$1 = RMB 6.80