As of June 21, prices of import iron ore for China have mostly decreased 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 Liaoning Province and Tangshan, with overall transaction activity for domestic production ore at low levels.
At present, Indian fine ores of 63.5 percent grade are offered at $69.1/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $84/mt and prices of the same material are at $82/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
In the early part of the given week, since steelmakers in most regions resumed production after the Shanghai Cooperation Organization Summit (2018), demand in China for import iron ore improved. However, in the latter part of the week, due to the Dragon Boat Festival (June 16-18), demand for import iron ore slackened. After the Dragon Boat Festival, ferrous metal futures prices in China have moved down, exerting a negative impact on import iron ore prices. In addition, strict environmental protection requirements will negatively affect production by blast furnaces and demand for iron ore. It is thought that import iron ore prices will likely edge down in the coming week.
Imported iron ore prices
|
Product Name |
Name of Port |
Iron Content % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
|
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
602-612 |
93-94 |
↑2 |
|
Brazil fines |
63,5 |
Brazil |
475-485 |
73-75 |
↓2 |
|
|
Yandi fines |
58 / 59 |
Australia |
375-384 |
58-59 |
↓10 |
|
|
PB fines |
61,5 |
Australia |
438-448 |
67-69 |
↓15 |
|
|
PB iron ore lump |
62 |
Australia |
583-593 |
90-91 |
↑2 |
|
|
Indian fine ore |
63,5 |
India |
444-454 |
68-70 |
↓13 |
|
|
Indian fine ore |
63 |
India |
434-444 |
67-68 |
↓13 |
|
|
Indian fine ore |
62 |
India |
414-424 |
64-65 |
↓13 |
|
|
Indian fine ore |
61 |
India |
399-409 |
61-63 |
↓8 |
|
|
Indian fine ore |
59 |
India |
305-315 |
47-49 |
↓5 |
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 |
470 |
72 |
0 |
|
damp base (iron content: 66%) |
Beipiao |
460 |
71 |
0 |
16 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = RMB 6.50