Iron ore prices in China have moved up since late last week, exceeding the phycological level of $110/mt CFR. Even though today, prices posted small declines, overall outlook in the iron ore market is still positive after recently announced loose monetary policy by the authorities for 2026.
On January 8, the price for ex-Australia iron ore fines with 62 percent Fe content has posted a daily decline of $0.9/mt to $109.9/mt CFR, but this is still $4/mt higher than on December 25 and $2.9/mt above a level on the last day before the holidays – December 31. As for the fines with 65 percent Fe content, they were priced at $123/mt CFR today, down by $1.1/mt over a day, but up by $3.4/mt compared to December 25.
24 deals totaling 463,800 mt of iron ore have been signed at the Corex platform on January 8, signaling about rather stable trading from a day earlier. In general, demand has been reported strong early this week, while it started to ease a little since prices peaked on Wednesday.
In particular, today, 17,092 mt of 61.31 percent Fe PB lump dealt at RMB 875/mt ($124.6/mt), delivery at Tianjin port, 11,160 mt of 57.83 percent Fe MB fines reached at RMB 738/mt ($105.1/mt), delivery at Tianjin port, and 10,000 mt of 60.78 percent Fe PB fines, transacted at RMB 818/mt ($116.5/mt), other binding terms.
On January 8, Corex’s Iron Ore Portside Index (61% Fe Qingdao) and Iron Ore Portside Index (61% Fe Caofeidian) were at RMB 822/wmt and RMB 827/wmt, with USD/dmt equivalence standing at $109.97 and $110.3.
During the given week, import iron ore prices have moved on an uptrend amid the rebounding molten iron output. Meanwhile, steelmakers’ inventories of iron ore have been at relatively low levels, resulting in stock replenishments following the New Year holiday, bolstering the iron ore prices. The global shipment of iron ore has been at relatively high levels, while the iron ore arriving at ports increased slightly. Moreover, iron ore futures prices have seen rises amid the increases seen in other commodities. It is thought that import iron ore prices in the Chinese market will edge up slightly further in the coming week.
Iron ore futures prices at Dalian Commodity Exchange have decreased by 0.37 percent today to RMB 813/mt ($115.8/mt) compared to the previous trading day, January 7, while increasing by 4.4 percent compared to December 25.
As of January 8, rebar futures at Shanghai Futures Exchange are standing at RMB 3,168/mt ($451/mt), increasing by RMB 41/mt ($5.8/mt) or 1.3 percent since December 25, while up 0.44 percent compared to the previous trading day, January 7.
Imported iron ore prices in China (week-on-week basis)
| Product name | Iron Content |
Truck loaded price (RMB/mt) |
Change (RMB/mt) |
Price ($/mt) |
Change ($/mt) |
| Newman iron ore lump | 63/63.5 | 889 | 26 | 126.6 | 4.0 |
| Yandi fines | 58 / 59 | 815 | 38 | 116.1 | 5.7 |
| PB Fines | 62 | 829 | 38 | 118.1 | 5.7 |
| PB iron ore lump | 62/63 | 891 | 25 | 126.9 | 3.9 |
| Brazil fines | 63 | 864 | 36 | 123.1 | 5.4 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
| Place of origin | Market price （RMB/mt, Incl. VAT) | Change (RMB/mt) |
Price（$/mt) | Change ($/mt) |
| Tangshan | 889 | 11 | 127 | 2 |
| Beipiao | 859 | 6 | 122 | 1 |
Price includes VAT.
$1 = RMB 7.0197