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