Import iron ore prices in China move down

Thursday, 25 July 2019 15:38:01 (GMT+3)   |   Shanghai
       

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


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