Import iron ore prices in China increase

Thursday, 25 April 2019 15:00:08 (GMT+3)   |   Shanghai
       

As of April 25, 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 remained stable in Liaoning Province, though edging up in Tangshan, 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 $96.3/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $101/mt and prices of the same material are at $101/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, import iron ore prices edged down first as Vale’s Brucutu mine in Brazil received approval for resumption of iron ore production, while import iron ore prices moved up later in the week as Chinese steelmakers have been replenishing their import iron ore stocks ahead of Labor Day holiday (May 1-4). Deliveries of import iron ore will likely increase after the holiday, while demand from steelmakers will also increase. It is thought that import iron ore prices for China will likely move sideways 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

897-907

133-135

↑24

Brazil fines

63,5

Brazil

703-713

104-106

↑3

Yandi fines

58 / 59

Australia

627-637

93-95

↑3

PB fines

61,5

Australia

658-668

98-99

↑8

PB iron ore lump

62

Australia

893-903

132-134

↑24

Indian fine ore

63,5

India

644-654

96-97

↑11

Indian fine ore

63

India

632-642

94-95

↑11

Indian fine ore

62

India

617-627

92-93

↑11

Indian fine ore

61

India

592-602

88-89

↑11

Indian fine ore

59

India

564-574

84-85

↑6

 

The prices are deal prices in local market.  

13 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

600

89

↑10

damp base (ironcontent: 66%)

Beipiao

605

90

0

 

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

$1 = 6.74 RMB


Most Recent Related Articles

Some Izmir-based Turkish mills further reduce ship scrap purchase prices

CEBID: Turkish steel pipe output expected to increase in 2020

Japan's new ship export orders fall in 2019

Domestic rebar prices in Taiwan - week 4

Taiwan’s basic metal export orders down 14.6 percent in 2019