Import iron ore prices in China have seen slight rises week on week with the support of futures prices, rebounding steel prices and moderate demand, though this week activity has already eased ahead of the long holiday.
Iron ore fines with 62 percent Fe content have inched up by $0.1/mt on January 23 to $103.55/mt CFR. This level is also $1.05/mt above the level seen on January 16. Brazilian iron ore with 65 percent Fe has increased by just $0.05/mt compared to the previous day to $117.8/mt CFR, while up $0.7/mt week on week, SteelOrbis has learned.
23 deals for a total of 312,000 mt of iron ore have been signed at the Corex platform on January 23. In particular, 50,000 mt of 60.6 percent Fe Mac fines have been transacted at RMB 782/mt ($109/mt), for delivery at Tianjin port, and 20,000 mt of 62.09 percent Fe PB lump have been sold at RMB 918/mt ($128/mt), for delivery at Tianjin port.
During the given week, import iron ore prices in the Chinese market have moved up slightly amid increasing iron ore futures prices. Demand for iron ore has improved as molten iron output has bottomed up, while the delivery of iron ore at ports has decreased significantly. Deliveries of iron ore are expected to continue to decline in the coming week, while molten iron output will decrease sharply due to the Chinese New Year holiday (January 28-February 4). It is thought that import iron ore prices in the Chinese market will oscillate on the higher side after the holiday.
Iron ore futures prices at Dalian Commodity Exchange have increased by 0.44 percent today at RMB 801.5/mt ($111.8/mt) compared to the previous trading day, January 22, while increasing by RMB 4.5/mt ($0.6/mt) compared to January 16.
As of January 23, rebar futures at Shanghai Futures Exchange are standing at RMB 3,352/mt ($467.5/mt), increasing by RMB 25/mt ($3.5/mt) since January 16, while up 0.57 percent compared to the previous trading day, January 22.
Imported iron ore prices in China (week-on-week basis)
Product name |
Iron |
Truck loaded price |
Change |
Price |
Change |
Newman iron ore lump |
63/63.5 |
916 |
+10 |
127.7 |
+1.7 |
Yandi fines |
58/59 |
764 |
+7 |
106.5 |
+1.2 |
PB Fines |
62 |
793 |
+7 |
110.6 |
+1.2 |
PB iron ore lump |
62/63 |
925 |
+6 |
129.0 |
+1.1 |
Brazil fines |
63 |
811 |
+4 |
113.1 |
+0.8 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
Place of origin |
Market price (RMB/mt, Incl. VAT) |
Change |
Price ($/mt) |
Change |
Tangshan |
864 |
-4 |
120 |
0 |
Beipiao |
802 |
0 |
112 |
0 |
Price includes VAT.
$1 = RMB 7.1708
