Import iron ore prices in China mostly move upwards

Thursday, 27 June 2019 10:50:14 (GMT+3)   |   Shanghai
       

During the week ending June 27, prices of import iron ore for China have mostly moved on an upward trend, apart from ex-India ore prices which have moved sideways, 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 indicated an upward trend 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 $118.5/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $116/mt and prices of the same material are at $108/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 increased, exerting a positive impact on iron ore prices. However, demand for iron ore has slackened, weakening the support for ore prices. At the same time, steel production cuts in northern China will negatively affect the demand for iron ore. It is thought that import iron ore prices will likely show a downward correction 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

1,051-1,061

153-154

↑16

Brazil fines

63,5

Brazil

890-900

129-131

↑12

Yandi fines

58 / 59

Australia

808-818

117-119

↑8

PB fines

61,5

Australia

842-852

122-124

↑6

PB iron ore lump

62

Australia

1,043-1,053

152-153

↑16

Indian fine ore

63,5

India

809-819

118-119

0

Indian fine ore

63

India

799-809

116-118

0

Indian fine ore

62

India

787-797

114-116

0

Indian fine ore

61

India

772-782

112-114

0

Indian fine ore

59

India

723-733

105-107

0

 

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

707

103

↑22

damp base (ironcontent: 66%)

Beipiao

655

95

0

 

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

$1 = 6.88 RMB

 


Most Recent Related Articles

Silicomanganese prices in local Chinese market - week 31

Crude steel output in Hebei increases by 1.7 percent in June

Iron ore inventory at Chinese ports up 1.46 percent

Silicomanganese prices in local Chinese market - week 30

Ferrosilicon prices in local Chinese market - week 29