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