Import iron ore prices in China increase

Thursday, 01 November 2018 15:08:10 (GMT+3)   |   Shanghai
       

During the week ending November 1, prices of import iron ore for China have indicated an increasing trend, 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 increased in Tangshan and Liaoning Province, with overall transaction activity for domestic production ore at medium levels. 

At present, Indian fine ores of 63.5 percent grade are offered at $77.0/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $99/mt and prices of the same material are at $99/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, demand for iron ore from downstream users in China has remained at good levels against the backdrop of tight supply at ports, while market participants are upbeat on the prospects for the iron ore market in the coming period. It is thought that import iron ore prices in China will likely rise further 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

793-803

114-115

20

Brazil fines

63,5

Brazil

572-582

82-84

3

Yandi fines

58 / 59

Australia

518-528

75-76

14

PB fines

61,5

Australia

584-594

84-86

26

PB iron ore lump

62

Australia

782-792

113-114

20

Indian fine ore

63,5

India

532-542

77-78

22

Indian fine ore

63

India

522-532

75-77

22

Indian fine ore

62

India

502-512

72-74

22

Indian fine ore

61

India

492-502

71-72

22

Indian fine ore

59

India

386-396

56-57

23

 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

595

86

15

damp base (iron content: 66%)

Beipiao

595

86

10

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

$1 = 6.95 RMB


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