Import iron ore prices for China mostly edge up slightly

As of May 10, prices of import iron ore for China have mostly moved slight rises on week-on-week basis, 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 remained stable 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 $71.1/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $85/mt and prices of the same material are at $84/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table

In the first part of the given week, steelmakers have been seeking to purchase import iron ore following their iron ore consumption during the Labor Day holiday. However, in the latter part of the given week the replenishment of iron ore stocks has been quiet. Import iron ore supply has been stable in recent days. Meanwhile, inventory levels of finished steel in the domestic spot market have decreased, which will provide support for import iron ore prices as steelmakers step up their capacity utilization rates. It is thought that import iron ore prices in the Chinese market will likely move sideways in the coming week.

Imported iron ore prices

 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

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

$1 = RMB 6.35