Import iron ore prices in China have moved down today, Thursday, October 26, and, even though they are a little lower in the week-on-week comparison, in general they are still assessed as being relatively high. Iron ore futures have been on the rise this week, adding 0.69 percent today.
Iron ore fines with 62 percent Fe content have declined by $0.95/mt today to $118.9/mt CFR. This level is also $0.95/mt below that seen one week ago. Brazilian iron ore with 65 percent Fe has indicated a decrease of $0.8/mt on October 26 to $128.95/mt CFR, while down $0.1/mt week on week, SteelOrbis has learned.
21 deals for a total of 474,591 mt have been concluded at Corex today, including 188,000 mt of 58.2 percent FB fines transacted at the December 62 percent iron ore index -$1.5/mt, for shipment during December 1-10.
During the given week, import iron ore prices have edged down slightly as steelmakers have reduced outputs due to increased losses. Deliveries of iron ore may decline in the coming week, while crude steel output will continue to see declines. However, China will issue additional special bonds of RMB 1 trillion for 2023 in the October-December period this year, bolstering market sentiments to a certain degree. It is thought that import iron ore prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
Iron ore futures prices at Dalian Commodity Exchange have risen by 0.69 percent to RMB 876.5/mt ($122.1/mt) compared to the previous trading day (October 25), while increasing by RMB 5/mt ($0.7/mt) compared to October 19.
As of Thursday, October 26, rebar futures at the Shanghai Futures Exchange are standing at RMB 3,685/mt ($513/mt), increasing by RMB 41/mt ($2.4/mt) or up 1.1 percent since October 19, while rising by 0.57 percent compared to the previous trading day (October 25).
Imported iron ore prices in China (week-on-week basis)
|
Product name |
Iron |
Truck loaded price |
Change |
Price |
Change |
|
Newman iron ore lump |
63/63.5 |
1,112 |
-10 |
154.9 |
-1.3 |
|
Yandi fines |
58 / 59 |
898 |
-2 |
125.1 |
-0.2 |
|
PB Fines |
62 |
930 |
1 |
129.6 |
0.2 |
|
PB iron ore lump |
62/63 |
1,128 |
-6 |
157.1 |
-0.8 |
|
Brazil fines |
63 |
945 |
1 |
131.7 |
0.2 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
|
Place of origin |
Market price （RMB/mt, Incl. VAT) |
Change |
Price（$/mt) |
Change |
|
Tangshan |
974 |
-16 |
136 |
-2 |
|
Beipiao |
932 |
-6 |
130 |
-1 |
Price includes VAT.
$1 = RMB 7.1784