Iron ore prices in China have fluctuated within a limited range in the past week with some negative bias as supply has been on the higher side, while demand has remained slack.
On December 25, the price for ex-Australia iron ore fines with 62 percent Fe content was at $105.9/mt CFR, stable from a day ago, but down by $1.2/mt over the week. Fines with 65 percent Fe content were priced at $119.4/mt CFR, also unmoved from Wednesday, but losing $1.7/mt from last week.
10 deals totaling 125,300 mt of iron ore have been signed at the Corex platform on December 25. In particular, 12,900 mt of 56.45 percent Fe FMG ultra fines dealt at RMB 709/mt ($100.7/mt), delivery at Jingtang port, 10,000 mt of 64.74 percent Fe Carajas fines were traded at RMB 880/mt ($125/mt), delivery at Tianjin port.
On December 25, Corex’s Iron Ore Portside Index (61% Fe Qingdao) and Iron Ore Portside Index (61% Fe Caofeidian) are at RMB 793/wmt and RMB 806/wmt, with USD/dmt equivalence standing at $105.61 and $107.05.
In the given week, import iron ore prices in the Chinese market have fluctuated in the limited range with small declines seen in comparison to the previous week. Supply of iron ore increased, while the demand from steelmakers has been slack. Inventories of iron ore continued the increasing trend, exerting a negative impact on its prices. The shipment of seaborne iron ore in the global market is likely to decrease slightly in the coming week, which will reduce the iron ore arriving at ports and bolster its prices to a certain degree. It is expected that import iron ore prices will continue to fluctuate within a limited range in the coming week.
Iron ore futures prices at Dalian Commodity Exchange have increased by 0.58 percent today to RMB 778.5/mt ($110.6/mt) compared to the previous trading day, December 24, while increasing by 0.13 percent compared to December 18.
As of December 25, rebar futures at Shanghai Futures Exchange are standing at RMB 3,127/mt ($444/mt), increasing by RMB 2/mt ($0.28/mt) or 0.06 percent since December 18, while up 0.03 percent compared to the previous trading day, December 24.
Imported iron ore prices in China (week-on-week basis)
| Product name | Iron Content |
Truck loaded price (RMB/mt) |
Change (RMB/mt) |
Price ($/mt) |
Change ($/mt) |
| Newman iron ore lump | 63/63.5 | 863 | 2 | 122.6 | 0.6 |
| Yandi fines | 58 / 59 | 777 | -3 | 110.4 | -0.1 |
| PB Fines | 62 | 791 | -3 | 112.4 | -0.1 |
| PB iron ore lump | 62/63 | 866 | -7 | 123.0 | -0.7 |
| Brazil fines | 63 | 828 | -2 | 117.6 | 0.0 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
| Place of origin | Market price （RMB/mt, Incl. VAT) | Change (RMB/mt) |
Price（$/mt) | Change ($/mt) |
| Tangshan | 878 | 6 | 125 | 1 |
| Beipiao | 853 | 0 | 121 | 0 |
Price includes VAT.
$1 = RMB 7.0392