Import iron ore prices in China have indicated declines today, Thursday, August 15, and have fallen significantly from last week, as iron ore futures prices in China have decreased by 6.1 percent compared to August 8, and the slump in the steel market in China as well as the reduced consumption by Chinese steel mills have been exerting significant pressure.
Iron ore fines with 62 percent Fe content have indicated a decrease of $2/mt on August 15 to $92.8/mt CFR. This level is $5.9/mt below that seen on August 8. Brazilian iron ore with 65 percent Fe has decreased by $2.3/mt on August 15 to $107.65/mt CFR, while down $6.6/mt week on week, SteelOrbis has learned.
28 deals for a total of 391,600 mt of iron ore have been done at the Corex platform on August 15. In particular, one deal for 90,000 mt of 61.7 percent Fe Newman fines has been signed at $89.9/mt CFR for shipment during the September 6-15 period.
During the given week, import iron ore prices have indicated a decreasing trend amid the continuous decreases in finished steel prices. Demand for iron ore has slackened as steelmakers have implemented more production halts, reducing molten iron outputs significantly. As for the coming week, delivery of iron ore will likely increase a little, which will exert a negative impact on prices from the supply side. It is expected that import iron ore prices will edge down further in the coming period.
Iron ore futures prices at Dalian Commodity Exchange have decreased by 2.09 percent today to RMB 703.5/mt ($98.5/mt) compared to the previous trading day, August 14, while decreasing by RMB 45.5/mt ($6.4/mt) compared to August 8.
As of August 15, rebar futures at Shanghai Futures Exchange are standing at RMB 3,119/mt ($437/mt), decreasing by RMB 135/mt ($18.9/mt) or 4.15 percent since August 8, while down 0.16 percent compared to the previous trading day, August 14.
Imported iron ore prices in China (week-on-week basis)
Product name |
Iron |
Truck loaded price |
Change |
Price |
Change |
Newman iron ore lump |
63/63.5 |
888 |
-38 |
124.4 |
-5.2 |
Yandi fines |
58/59 |
633 |
-42 |
88.7 |
-5.8 |
PB Fines |
62 |
725 |
-40 |
101.5 |
-5.5 |
PB iron ore lump |
62/63 |
886 |
-55 |
124.1 |
-7.6 |
Brazil fines |
63 |
750 |
-54 |
105.0 |
-7.5 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
Place of origin |
Market price （RMB/mt, Incl. VAT) |
Change |
Price（$/mt) |
Change |
Tangshan |
885 |
-56 |
124 |
-8 |
Beipiao |
864 |
-12 |
121 |
-2 |
Price includes VAT.
$1 = RMB 7.1399
