During the week ending November 16, prices of import iron ore for China have indicated an overall soft trend, 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 in Tangshan Province have increased slightly, while their offers have remained stable 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 $61.8/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 $82/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, domestic steelmakers have been cautious about concluding purchases of import iron ore due to production cuts in northern China during the winter season. Meanwhile, some shortages of supply have been observed in the import iron ore market, which will provide a certain degree of support for import iron ore prices. It is thought that import iron ore prices in the Chinese market will likely move sideways in the coming week.
Imported iron ore prices
|
Product Name |
Name of Port |
Iron Content % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
|
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
645-655 |
97-99 |
↓20 |
|
Brazil fines |
63,5 |
Brazil |
385-395 |
58-60 |
↓5 |
|
|
Yandi fines |
58 / 59 |
Australia |
400-410 |
60-62 |
↓7 |
|
|
PB fines |
61,5 |
Australia |
460-470 |
69-71 |
↓8 |
|
|
PB iron ore lump |
62 |
Australia |
620-630 |
94-95 |
↓20 |
|
|
Indian fine ore |
63,5 |
India |
405-415 |
61-63 |
↓5 |
|
|
Indian fine ore |
63 |
India |
395-405 |
60-61 |
↓5 |
|
|
Indian fine ore |
62 |
India |
375-385 |
57-58 |
↓5 |
|
|
Indian fine ore |
61 |
India |
355-365 |
54-55 |
↓5 |
|
|
Indian fine ore |
59 |
India |
275-285 |
42-43 |
↓5 |
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 |
475 |
72 |
↑5 |
|
damp base (iron content: 66%) |
Beipiao |
465 |
70 |
0 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = RMB 6.63