As of December 28, prices of import iron ore for China have softened 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 moved on a stable trend in Tangshan, while increasing in Liaoning Province, with transaction activity for domestic production ore also at low-to-medium levels.
At present, Indian fine ores of 63.5 percent grade are offered at $67.3/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $93/mt and prices of the same material are at $93/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, domestic semi-finished steel prices have decreased and rebar futures and spot prices have softened, exerting a negative impact on import iron ore prices. Following the decreases in import iron ore prices, transaction activity has improved, providing support for ore prices to edge up again, though the average prices of import iron ore are lower compared to one week ago. In addition, miners and steelmakers have recently been keeping their iron ore inventories at low levels, which will provide support for ore prices. It is thought that import iron ore prices in China will soften slightly in the coming week.
Imported iron ore prices
|
Product Name |
Name of Port |
Iron Content % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
|
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
590-600 |
90-92 |
↓5 |
|
Brazil fines |
63,5 |
Brazil |
430-440 |
66-67 |
↓10 |
|
|
Yandi fines |
58 / 59 |
Australia |
437-447 |
67-68 |
↓6 |
|
|
PB fines |
61,5 |
Australia |
513-523 |
79-80 |
↓7 |
|
|
PB iron ore lump |
62 |
Australia |
570-580 |
87-89 |
↓5 |
|
|
Indian fine ore |
63,5 |
India |
435-445 |
67-68 |
↓3 |
|
|
Indian fine ore |
63 |
India |
425-435 |
65-67 |
↓3 |
|
|
Indian fine ore |
62 |
India |
405-415 |
62-64 |
↓3 |
|
|
Indian fine ore |
61 |
India |
353-395 |
54-60 |
↓3 |
|
|
Indian fine ore |
59 |
India |
300-310 |
46-47 |
↓3 |
The prices are deal prices in local market.
17 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 |
520 |
80 |
0 |
|
damp base (iron content: 66%) |
Beipiao |
520 |
80 |
↑20 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = RMB 6.54