Import iron ore prices in China increase

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 

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

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

$1 = 6.74 RMB