Import iron ore prices for China move up slightly

During the week ending February 8, 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 medium levels. At the same time, traders’ offers of domestic production iron ore have remained stable in Liaoning Province, while indicating increases in Tangshan, with transaction activity for domestic production ore also at medium levels. 

At present, Indian fine ores of 63.5 percent grade are offered at $76.4/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 $95/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, import iron ore prices have indicated slight rises as most steelmakers have planned to finish their inventory replenishments this week ahead of the Chinese New Year holiday. As for the coming week, many traders will exit the market, which will result in slack activity. It is thought that import iron ore prices will likely move sideways in the coming week.

Imported iron ore prices

 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

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

$1 = RMB 6.32