As of July 25, prices of import iron ore for China have declined 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 indicated an upward trend in Liaoning Province, though remaining stable 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 $119.3/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 $117/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, iron ore futures prices at Dalian Commodity Exchange (DCE) have edged down, exerting a negative impact on iron ore prices in the spot market. Meanwhile, traders in the iron ore market have been willing to lower prices to stimulate sales activities. At the same time, steelmakers’ profitability has shrunk, which will negatively affect the iron ore market. It is expected that import iron ore prices in the Chinese market will soften in the coming week.
Imported iron ore prices
|
Product Name |
Name of Port |
IronContent % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
|
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
998-1,008 |
145-147 |
↓36 |
|
Brazil fines |
63,5 |
Brazil |
885-895 |
129-130 |
↓32 |
|
|
Yandi fines |
58 / 59 |
Australia |
785-795 |
114-116 |
↓37 |
|
|
PB fines |
61,5 |
Australia |
851-861 |
124-125 |
↓39 |
|
|
PB iron ore lump |
62 |
Australia |
993-1,003 |
145-146 |
↓36 |
|
|
Indian fine ore |
63,5 |
India |
816-826 |
119-120 |
↓28 |
|
|
Indian fine ore |
63 |
India |
807-817 |
118-119 |
↓28 |
|
|
Indian fine ore |
62 |
India |
796-806 |
116-117 |
↓28 |
|
|
Indian fine ore |
61 |
India |
781-791 |
114-115 |
↓28 |
|
|
Indian fine ore |
59 |
India |
727-737 |
106-107 |
↓22 |
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 |
0 |
|
damp base (ironcontent: 66%) |
Beipiao |
710 |
103 |
↑15 |
13 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = 6.87 RMB