As of January 24, prices of import iron ore for China have moved on diverse trends on week-on-week basis, while transaction activity for import iron ore in the past week has been at medium levels. At the same time, traders’ offers of domestic production iron ore have risen slightly in Liaoning Province, though remaining stable in Tangshan, with overall transaction activity for domestic production ore at medium levels.
At present, Indian fine ores of 63.5 percent grade are offered at $80.9/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $96/mt and prices of the same material are at $91/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, iron ore price trends have varied depending on diverse demand levels for different ore products. Deliveries of import iron ore are expected to continue to decrease in the coming week, while steelmakers’ demand for ore will slacken ahead of the approaching Chinese New Year holiday (February 2-10) as most of them have completed their inventory replenishments in the current week. It is thought that import iron ore prices for China will likely fluctuate within a limited range in the coming week.
Imported iron ore prices
Product Name |
Name of Port |
IronContent % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
784-794 |
115-117 |
↑1 |
Brazil fines |
63,5 |
Brazil |
550-560 |
81-82 |
↓4 |
|
Yandi fines |
58 / 59 |
Australia |
516-526 |
76-77 |
↑15 |
|
PB fines |
61,5 |
Australia |
555-565 |
82-83 |
↑4 |
|
PB iron ore lump |
62 |
Australia |
770-780 |
113-115 |
↑1 |
|
Indian fine ore |
63,5 |
India |
544-554 |
80-82 |
↑6 |
|
Indian fine ore |
63 |
India |
524-534 |
77-79 |
↓4 |
|
Indian fine ore |
62 |
India |
504-514 |
74-76 |
↓4 |
|
Indian fine ore |
61 |
India |
484-494 |
71-73 |
↓5 |
|
Indian fine ore |
59 |
India |
431-441 |
63-65 |
↑23 |
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
Product |
Spec. |
Place of Origin |
Market price excluding tax (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
Domesticiron oreconcentrate |
damp base (ironcontent: 66%) |
Tangshan |
565 |
83 |
0 |
damp base (ironcontent: 66%) |
Beipiao |
535 |
79 |
↑20 |
16 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = 6.79 RMB