As of March 14, prices of import iron ore for China have mostly moved on an increasing trend on week-on-week basis, 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 been stable in Liaoning Province, though indicating slight rises in Tangshan, 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 $93.6/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $104/mt and prices of the same material are at $99/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, import iron ore prices for China first edged down as traders wanted to sell to lock in profits, while they have since moved up supported by inventory replenishment by steelmakers. Meanwhile, some steelmakers have started to prepare to resume their production following the steel output restrictions for the annual sessions of China’s parliament and its advisory body which end on March 15 and so demand in China for iron ore is expected to improve. It is thought that in the coming week iron ore prices in China will edge up slightly, with some fluctuations also possible.
Imported iron ore prices
Product Name |
Name of Port |
IronContent % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
867-877 |
129-130 |
↑7 |
Brazil fines |
63,5 |
Brazil |
646-656 |
96-97 |
↑8 |
|
Yandi fines |
58 / 59 |
Australia |
560-570 |
83-85 |
↓6 |
|
PB fines |
61,5 |
Australia |
613-623 |
91-93 |
↓2 |
|
PB iron ore lump |
62 |
Australia |
845-855 |
123-127 |
↑7 |
|
Indian fine ore |
63,5 |
India |
623-633 |
93-94 |
↑9 |
|
Indian fine ore |
63 |
India |
603-613 |
90-91 |
↑9 |
|
Indian fine ore |
62 |
India |
583-593 |
87-88 |
↑9 |
|
Indian fine ore |
61 |
India |
563-573 |
84-85 |
↑9 |
|
Indian fine ore |
59 |
India |
530-540 |
79-80 |
↑1 |
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) |
Domesticiron oreconcentrate |
damp base (ironcontent: 66%) |
Tangshan |
600 |
89 |
↑20 |
damp base (ironcontent: 66%) |
Beipiao |
575 |
85 |
0 |
16 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = 6.73 RMB