Import iron ore prices in China fluctuate slightly

As of January 17, prices of import iron ore for China have indicated minor increases or decreases 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, though remaining stable in Liaoning Province, with overall transaction activity for domestic production ore at low-to-medium levels. 

At present, Indian fine ores of 63.5 percent grade are offered at $80.2/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $97/mt and prices of the same material are at $88/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, deliveries of import iron ore from Australia have decreased slightly due to berth maintenance works. Meanwhile, some steelmakers in China have finished their own maintenance works, which will increase the demand for import iron ore. Since there are only more than two weeks left ahead of the Chinese New Year holiday (February 2-10), more steelmakers are expected to build up their inventories of import iron ore. It is thought that import iron ore prices in the Chinese market will edge up slightly in the coming week.

Imported iron ore prices

The prices are deal prices in local market.   

16 percent VAT is included in all prices and all prices are ex-warehouse. 

Domestic iron ore prices in local Chinese market

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

$1 = 6.77 RMB