Import iron ore prices in China move down

Thursday, 11 July 2019 14:52:23 (GMT+3)   |   Shanghai
       

During the week ending July 11, prices of import iron ore for China have indicated a downward trend, 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 and 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 $121.4/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $122/mt and prices of the same material are at $111/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, although giant miners including BHP Billiton have increased their iron ore shipments, the import iron ore arriving at Chinese ports has not increased, bolstering import iron ore prices. Meanwhile, the capacity utilization rates of blast furnaces have remained at high levels, providing support for import iron ore prices from the demand side. However, moves in China to carry out probes into the rapid rises in import iron ore prices have negatively impacted ore prices. As for the coming week, iron ore shipments from Australia are expected to arrive at Chinese ports, which will increase the downward pressure on iron ore prices. It is thought that import iron ore prices in China will move sideways at their current high levels 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

1044-1054

153-154

↓28

Brazil fines

63,5

Brazil

920-930

129-131

↓15

Yandi fines

58 / 59

Australia

840-850

117-119

↓13

PB fines

61,5

Australia

885-895

122-124

↓14

PB iron ore lump

62

Australia

1039-1049

152-153

↓31

Indian fine ore

63,5

India

830-840

118-119

↓15

Indian fine ore

63

India

821-831

116-118

↓14

Indian fine ore

62

India

810-820

114-116

↓15

Indian fine ore

61

India

795-805

112-114

↓15

Indian fine ore

59

India

745-755

105-107

↓1

 

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

745

108

↑16

damp base (ironcontent: 66%)

Beipiao

675

98

↑10

 

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

$1 = 6.87 RMB


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