Import iron ore prices in China indicate diverse trends

Thursday, 18 July 2019 17:23:17 (GMT+3)   |   Shanghai
       

As of July 18, prices of import iron ore for China have indicated diverse trends on week-on-week basis, with iron ore from Australia mostly declining in price, and ore prices from India indicating rises, while transaction activity for import iron ore in the past week has been at low-to-medium levels. At the same time, traders’ offers of domestic production iron ore have indicated an upward trend in Tangshan and 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 $123.4/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $126/mt and prices of the same material are at $114/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, more iron ore supplies have arrived at Chinese ports, while demand in China for import iron ore has slackened due to environmental protection measures. Iron ore traders have started to sell at lower prices, trying to lock in their profits. It is thought that import iron ore prices for China will likely edge down slightly in the coming week.
 

Imported iron ore prices

Product Name

Name of Port

IronContent %

Place of origin

Truck loaded price (RMB/mt)

Price($/mt)

Weekly Change (RMB/mt)

Newman iron ore lump

Qingdao

63/63.5

Australia

1,034-1,044

150-152

↓10

Brazil fines

63,5

Brazil

917-927

133-135

↓3

Yandi fines

58 / 59

Australia

822-832

119-121

↓18

PB fines

61,5

Australia

890-900

129-131

↑5

PB iron ore lump

62

Australia

1,029-1,039

150-151

↓10

Indian fine ore

63,5

India

844-854

123-124

↑14

Indian fine ore

63

India

835-845

121-123

↑14

Indian fine ore

62

India

824-834

120-121

↑14

Indian fine ore

61

India

809-819

118-119

↑14

Indian fine ore

59

India

749-759

109-110

↑4

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

Product

Spec.

Place of Origin

Market price excluding tax (RMB/mt)

Price ($/mt)

Weekly Change (RMB/mt)

Domesticiron oreconcentrate

damp base (ironcontent: 66%)

Tangshan

765

111

↑20

damp base (ironcontent: 66%)

Beipiao

695

101

↑20

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

$1 = 6.88 RMB

   


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