During the week ending February 22, prices of import iron ore for China have mostly increased slightly, 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 Liaoning Province and in Tangshan, with transaction activity for domestic production ore also at low levels.
At present, Indian fine ores of 63.5 percent grade are offered at $76.9/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $98/mt and prices of the same material are at $94/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given period, import iron ore prices have edged up slightly. Currently, steelmakers and iron ore traders have positive expectations as regards the future prospects for the iron ore market. After the holiday, there will be stock replenishments, which will be influenced by price trends; for instance, if iron ore prices move up quickly, steelmakers will slow down their purchases, while if prices indicate downward corrections, steelmakers will speed up their inventory replenishments. It is thought that iron ore prices in the Chinese market will move on an upward trend in the coming week.
Imported iron ore prices
|
Product Name |
Name of Port |
Iron Content % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
|
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
650-660 |
102-104 |
↑5 |
|
Brazil fines |
63,5 |
Brazil |
463-473 |
73-74 |
↑5 |
|
|
Yandi fines |
58 / 59 |
Australia |
456-466 |
72-73 |
0 |
|
|
PB fines |
61,5 |
Australia |
532-542 |
84-85 |
↑5 |
|
|
PB iron ore lump |
62 |
Australia |
640-650 |
101-102 |
↑8 |
|
|
Indian fine ore |
63,5 |
India |
483-493 |
76-78 |
↑5 |
|
|
Indian fine ore |
63 |
India |
473-483 |
74-76 |
↑5 |
|
|
Indian fine ore |
62 |
India |
453-463 |
71-73 |
↑5 |
|
|
Indian fine ore |
61 |
India |
433-443 |
68-70 |
↑5 |
|
|
Indian fine ore |
59 |
India |
334-344 |
53-54 |
0 |
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 |
530 |
84 |
0 |
|
damp base (iron content: 66%) |
Beipiao |
510 |
80 |
0 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = RMB 6.36