Import iron ore prices in China have remained stable in the past week, while steel mills' iron ore purchasing activities have slowed down compared to the previous week. Average daily crude steel output in China declined to 1.95 million mt in mid-July, down 3.1 percent month on month. Accordingly, the reduced demand may have a negative influence on the iron ore price trend in China. Spot market prices are currently at the same levels as contract prices. The truck-loaded price for 63.5 percent iron ore currently stands at $206.5/mt.
Import iron ore prices
Product name |
Port |
Iron |
Place of origin |
Truck-loaded price |
Change |
Price |
Newman ore |
Qingdao |
62/63 |
1,390 |
216 |
||
Carajas fines |
66/67 |
1,470 |
228 |
|||
Yandi fines |
58/59 |
1,180 |
183 |
|||
MAC fines |
62 |
1,270 |
197 |
|||
PB fines |
62/63 |
1,360 |
211 |
|||
Indian fine ore |
63.5 |
1,330 |
207 |
|||
Indian fine ore |
63 |
1,300 |
202 |
|||
Indian fine ore |
62 |
1,240 |
193 |
|||
Indian fine ore |
61 |
1,200 |
186 |
+10 |
||
Indian fine ore |
59 |
1,090 |
169 |
+10 |
17 percent VAT is included in all prices.
Most import iron ore prices have remained the same as in the previous week, while low grade Indian iron ore has picked up slightly by $1.6/mt week on week. Meanwhile, there has been a large increase in prices of domestic iron ore concentrate. 66 percent iron ore concentrate is offered at $165.4/mt in Tangshan, up $3.1/mt week on week, and at $149.8/mt in Beipiao, up $4.7/mt week on week.
Iron ore concentrate prices in China
Product |
Specification |
Place of Origin |
Market price excluding tax (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
Domestic iron ore concentrate |
damp base (iron content: 66%) |
Tangshan |
1,065 |
165 |
+20 |
damp base (iron content: 66%) |
Beipiao |
965 |
150 |
+30 |
Australian miner BHP Billiton's iron ore production increased significantly in the second quarter of the current year, totaling 35.526 million mt, up seven percent quarter on quarter and 14 percent year on year..Meanwhile, under the influence of rising costs and decreasing inventory, steel product prices in China are tending to increase.
Iron ore prices in China are expected to follow a relatively stable trend in the coming week.