Iron ore prices in China have fluctuated within a limited range in the past week. Market players’ fears regarding trade frictions between the US and China have partially materialized. The supply and demand situation became the fundamental factor affecting the market.
Today, April 17, prices for ex-Australia iron ore fines with 62 percent Fe content are at $98.3/mt CFR, down $0.3/mt from yesterday, while up $0.3/mt week on week. Also, ex-Brazil fines with 65 percent Fe are priced at $110.45/mt CFR, down $0.35/mt compared to April 16, while increasing by $0.25/mt over the past week.
Today, 23 deals for a total of 423,500 mt of iron ore have been signed at the Corex platform, including 6,000 mt of 63.01 percent Fe BRBF fines transacted at RMB 781/mt ($108.5/mt) CFR, for delivery at Dongjiakou port.
During the given week, the delivery of iron ore in the global market has been at normal levels but is expected to decline in the near future. Since the Labor Day holiday (May 1-5) is approaching, there will be some stock replenishment next week, which will bolster iron ore prices to a certain degree. Meanwhile, the Chinese authorities have emphasized the stabilization of the real estate industry and their focus on consumer recovery, which will also exert a positive impact on market sentiments. However, the uncertainties caused by the tariff issue between the US and China will continue to negatively affect market sentiments. It is thought that import iron ore prices in the Chinese market will likely fluctuate within a limited range in the coming week.
Iron ore futures prices at Dalian Commodity Exchange have risen by 0.07 percent today to RMB 707/mt ($98.2/mt) compared to the previous trading day, April 16, while remaining stable compared to April 10.
As of April 17, rebar futures at Shanghai Futures Exchange are standing at RMB 3,092/mt ($429/mt), decreasing by RMB 47/mt ($6.5/mt) or 1.5 percent since April 10, while down 0.45 percent compared to the previous trading day, April 16.
Imported iron ore prices in China (week-on-week basis)
| Product name | Iron Content |
Truck loaded price (RMB/mt) |
Change (RMB/mt) |
Price ($/mt) |
Change ($/mt) |
| Newman iron ore lump | 63/63.5 | 887 | +1 | 123.0 | +0.1 |
| Yandi fines | 58/59 | 737 | +7 | 102.2 | +1.0 |
| PB Fines | 62 | 766 | +7 | 106.3 | +1.0 |
| PB iron ore lump | 62/63 | 906 | +6 | 125.7 | +0.8 |
| Brazil fines | 63 | 780 | +11 | 108.2 | +1.5 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
| Place of origin | Market price （RMB/mt, Incl. VAT) | Change (RMB/mt) |
Price（$/mt) | Change ($/mt) |
| Tangshan | 840 | 0 | 117 | 0 |
| Beipiao | 797 | -5 | 111 | -1 |
Price includes VAT.
$1 = RMB 7.2085