Import iron ore prices in China mostly move on rising trend

Thursday, 14 March 2019 15:18:40 (GMT+3)   |   Shanghai
       

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


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