Import iron ore prices in China fluctuate slightly

Thursday, 17 January 2019 16:44:10 (GMT+3)   |   Shanghai
       

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

Product Name

Name of Port

IronContent %

Place of origin

Truck loaded price (RMB/mt)

Price($/mt)

Weekly Change (RMB/mt)

Newman iron ore lump

Qingdao

63/63.5

Australia

783-793

116-117

↓5

Brazil fines

63,5

Brazil

554-564

82-83

↓6

Yandi fines

58 / 59

Australia

501-511

74-75

0

PB fines

61,5

Australia

551-561

81-83

↓5

PB iron ore lump

62

Australia

769-779

114-115

↓5

Indian fine ore

63,5

India

538-548

79-81

↑12

Indian fine ore

63

India

528-538

78-79

↑12

Indian fine ore

62

India

508-518

75-77

↑12

Indian fine ore

61

India

489-499

72-74

↑12

Indian fine ore

59

India

408-418

60-62

↑27

 

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

Product

Spec.

Place of Origin

Market price excluding tax (RMB/mt)

Price ($/mt)

Weekly Change (RMB/mt)

Domesticiron oreconcentrate

damp base (ironcontent: 66%)

Tangshan

565

83

↑5

damp base (ironcontent: 66%)

Beipiao

515

76

0

 

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

$1 = 6.77 RMB


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