During the week ending October 11, prices of import iron ore for China have increased slightly, 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 remained stable in Tangshan, while increasing slightly in Liaoning Province, with overall transaction activity for domestic production ore at medium levels.
At present, Indian fine ores of 63.5 percent grade are offered at $70.0/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $97/mt and prices of the same material are at $96/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
Replenishment of inventories by Chinese steelmakers has resulted in lower inventories at ports, while supply remains on the tight side, exerting a positive impact on import iron ore prices. After the long holiday, iron ore futures prices at Dalian Commodity Exchange (DCE) moved up on the first three trading days of the week - though declining slightly on October 11 - and have generally bolstered iron ore prices in the spot market. It is expected that import iron ore prices in the Chinese market will move up further in the coming week.
Imported iron ore prices
|
Product Name |
Name of Port |
Iron Content % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
|
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
744-754 |
105-107 |
↑19 |
|
Brazil fines |
63,5 |
Brazil |
539-549 |
76-77 |
↑19 |
|
|
Yandi fines |
58 / 59 |
Australia |
471-481 |
64-66 |
↑28 |
|
|
PB fines |
61,5 |
Australia |
525-535 |
73-75 |
↑20 |
|
|
PB iron ore lump |
62 |
Australia |
733-743 |
104-105 |
↑19 |
|
|
Indian fine ore |
63,5 |
India |
480-490 |
69-70 |
↑8 |
|
|
Indian fine ore |
63 |
India |
470-480 |
67-69 |
↑8 |
|
|
Indian fine ore |
62 |
India |
450-460 |
64-66 |
↑8 |
|
|
Indian fine ore |
61 |
India |
440-450 |
63-64 |
↑8 |
|
|
Indian fine ore |
59 |
India |
338-348 |
48-49 |
↑8 |
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) |
|
Domestic iron ore concentrate |
damp base (iron content: 66%) |
Tangshan |
580 |
84 |
0 |
|
damp base (iron content: 66%) |
Beipiao |
575 |
83 |
↑20 |
16 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = 6.88 RMB