Import iron ore prices in China move on a rising trend

As of February 14, prices of import iron ore for China have increased week on week, while transaction activity for import iron ore in the past week has been at low levels. At the same time, traders’ offers of domestic production iron ore have edged up in Liaoning Province and Tangshan, with overall transaction activity for domestic production ore at low levels.  

At present, Indian fine ores of 63.5 percent grade are offered at $94.1/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $100/mt and prices of the same material are at $95/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 Chinese New Year holiday, due to the dam collapse in Brazil, import iron ore prices for China indicated significant increases, while import ore prices have also risen further due to the optimism surrounding the prospects for the trend of finished steel prices in the Chinese market. In addition, Chinese steelmakers need to replenish their stocks of import iron ore after the holiday. It is expected that import iron ore prices in the Chinese market will move sideways at the current high levels in the coming week.

Imported iron ore prices

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

16 percent VAT is excluded in all prices and all prices are ex-warehouse.

$1 = 6.77 RMB