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