Import iron ore prices in China edge up slightly

As of January 3, prices of import iron ore for China have edged up slightly 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 been stable in Tangshan, though edging up in Liaoning Province, with overall transaction activity for domestic production ore at low-to-medium levels. 

At present, Indian fine ores of 63.5 percent grade are offered at $75.1/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $96/mt and prices of the same material are at $87/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.

Import iron ore shipments in China will likely continue to increase in January just like in December. Meanwhile, the capacity utilization rates of blast furnaces in China have risen slightly, which will result in increased demand for import iron ore. It is expected that import iron ore prices in the Chinese market will edge up further in the coming week.
 

Imported iron ore prices

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

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

$1 = 6.87 RMB