Import iron ore prices in China mostly edge up slightly

As of November 15, prices of import iron ore for China have mostly edged up slightly on week-on-week basis, while transaction activity for import iron ore in the past week has been at low-to-medium levels. At the same time, traders’ offers of domestic production iron ore have remained stable in Liaoning Province, though indicating slight rises 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 $78.4/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 $100/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 at Dalian Commodity Exchange (DCE) have rebounded, exerting a positive impact on iron ore prices in the spot market. However, demand for iron ore has become slacker, resulting in low-to-medium transaction activities. It is thought that import iron ore prices will likely fluctuate within a limited range 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 = 6.94 RMB