During the week ending September 21, prices of import iron ore for China have mostly decreased, 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 decreased in Tangshan and remained stable in Liaoning Province, with transaction activity for domestic production ore also at low-to-medium levels.
At present, Indian fine ores of 63.5 percent grade are offered at $72.8/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $94/mt and prices of the same material are at $87/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, demand for iron ore has been slacker due to environmental protection measures being introduced in Handan, Hebei Province and Beijing. Steelmakers’ inventories of iron ore are on the high side and so they have been less willing to conclude purchases. Moreover, iron ore futures prices at Dalian Commodity Exchange have indicated significant decreases, exerting a negative impact on iron ore prices in the spot market. It is thought that iron ore prices in the Chinese market will move down further in the coming week.
Imported iron ore prices
|
Product Name |
Name of Port |
Iron Content % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
|
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
804-814 |
122-123 |
0 |
|
Brazil fines |
63,5 |
Brazil |
492-502 |
75-76 |
↓23 |
|
|
Yandi fines |
58 / 59 |
Australia |
480-490 |
73-74 |
↓15 |
|
|
PB fines |
61,5 |
Australia |
540-550 |
82-83 |
↓28 |
|
|
PB iron ore lump |
62 |
Australia |
776-786 |
118-119 |
↓5 |
|
|
Indian fine ore |
63,5 |
India |
475-485 |
72-74 |
↓23 |
|
|
Indian fine ore |
63 |
India |
465-475 |
71-72 |
↓23 |
|
|
Indian fine ore |
62 |
India |
445-455 |
68-69 |
↓23 |
|
|
Indian fine ore |
61 |
India |
425-445 |
64-67 |
↓23 |
|
|
Indian fine ore |
59 |
India |
326-336 |
49-51 |
↓17 |
The prices are deal prices in local market.
17 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) |
|
Domestic iron ore concentrate |
damp base (iron content: 66%) |
Tangshan |
530 |
80 |
↓5 |
|
damp base (iron content: 66%) |
Beipiao |
490 |
74 |
0 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = RMB 6.60