Import iron ore prices in China continue their rising trend

As of April 11, prices of import iron ore for China have moved on a rising trend 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 edged up in Liaoning Province, though remaining stable in Tangshan, with overall transaction activity for domestic production ore at medium levels. 

At present, Indian fine ores of 63.5 percent grade are offered at $95.1/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $101/mt and prices of the same material are at $102/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 continued to move up as supply at ports has been at low levels due to Cyclone Veronica’s negative impact on iron ore shipments from BHP Billiton and Rio Tinto. At the same time, inventories of import iron ore held by steelmakers have been at low levels, and this also provides support for import iron ore prices. Meanwhile, demand from steelmakers for import iron ore has been stronger as they have increased their capacity utilization rates. It is thought that import iron ore prices in the Chinese market will likely increase further in the coming week.

Imported iron ore prices

 The prices are deal prices in local market.  

13 percent VAT is included in all prices and all prices are ex-warehouse. 

Domestic iron ore prices in local Chinese market

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

$1 = 6.72 RMB