Iron ore prices in China have mostly moved on a downward trend in the past week, hitting the lowest level since September 2024 on April 8-9, but today, April 10, prices have posted some recovery amid hopes for a demand improvement and more aggressive supportive measures from the Chinese government, following the escalation of the US-China trade tensions.
On April 10, prices for ex-Australia iron ore fines with 62 percent Fe content are at $98/mt CFR, up $2.35/mt from yesterday, while down $4.35/mt week on week. Also, ex-Brazil fines with 65 percent Fe are priced at $110.2/mt CFR, up $2.2/mt compared to April 9, while decreasing by $4.8/mt over the past week.
Today, 29 deals for a total of 304,500 mt of iron ore have been signed at the Corex platform, including 80,000 mt of 60.6 percent Fe Mac fines transacted at $92.2/mt CFR, for shipment during May 11-20. In addition, 10,000 mt of 61.45 percent Fe Newman lumps have been sold at RMB 875/mt ($121.5/mt), 10,000 mt of 61.59 percent Fe PB fines have been traded at RMB 757/mt ($105/mt), and 11,160 mt of 59.55 percent Fe Jimblebar blended fines have changed hands at RMB 695/mt ($96.5/mt), all for delivery at Tianjin port.
After prices fell to their lowest level since September last year on Tuesday and Wednesday this week, the daily trade volume at the Corex platform increased to around 500,000 mt.
During the given week, import iron ore prices have moved down amid the prevailing bearish sentiments caused by the tariff issue between the US and China. The steel exports of China will be negatively affected in the future, exerting a negative impact on the iron ore market. The delivery of iron ore in the global market is expected to decline in the coming period, which may bolster prices to a certain degree. It is thought that import iron ore prices in the Chinese market will continue to fluctuate below the $100/mt CFR mark in the coming week.
Iron ore futures prices at Dalian Commodity Exchange have risen by 3.06 percent today to RMB 707/mt ($98.2/mt) compared to the previous trading day, April 9, while decreasing by RMB 81.5/mt compared to April 3. The rise in futures today has been mainly due to expectations of more stimuli from the government in the near future and stronger demand for steel and iron ore as a result.
As of April 10, rebar futures at Shanghai Futures Exchange are standing at RMB 3,139/mt ($436/mt), decreasing by RMB 25/mt ($6.1/mt) or 0.8 percent since April 3, while up 2.01 percent compared to the previous trading day, April 9.
Imported iron ore prices in China (week-on-week basis)
| Product name | Iron Content |
Truck loaded price (RMB/mt) |
Change (RMB/mt) |
Price ($/mt) |
Change ($/mt) |
| Newman iron ore lump | 63/63.5 | 886 | -18 | 122.9 | -2.8 |
| Yandi fines | 58 / 59 | 730 | -27 | 101.3 | -4.0 |
| PB Fines | 62 | 759 | -27 | 105.3 | -4.0 |
| PB iron ore lump | 62/63 | 900 | -18 | 124.8 | -2.9 |
| Brazil fines | 63 | 769 | -26 | 106.7 | -3.9 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
| Place of origin | Market price （RMB/mt, Incl. VAT) | Change (RMB/mt) |
Price（$/mt) | Change ($/mt) |
| Tangshan | 840 | -28 | 117 | -4 |
| Beipiao | 802 | -17 | 111 | -3 |
Price includes VAT.
$1 = RMB 7.2092