Iron ore prices in China have moved up in the past week, supported by a slight rise in futures prices and some declines in port inventories. Nevertheless, sentiment has been far from bullish as current consumption is still under pressure and the market sources are waiting for the steel price movements in September.
Today, August 28, prices for ex-Australia iron ore fines with 62 percent Fe content are at $103.15/mt CFR, rising by $1.65/mt from the previous day, while increasing by $3.2/mt over the past week. Also, ex-Brazil fines with 65 percent Fe are priced at $121.15/mt CFR, up $1.6/mt from the previous day, but $3.3/mt higher compared to August 21.
14 deals totaling 139,900 mt of iron ore have been signed at the Corex platform on August 28. 15,000 mt of 56.22 percent Fe MB fines were traded at RMB 645/mt ($90.8/mt), for delivery at Jingtang port, and 10,000 mt of 64.56 percent Fe Carajas fines were transacted at RMB 920/mt ($129.6/mt), for delivery at Tianjin port. In general, demand has been slow.
Import iron ore prices have edged up slightly amid increasing futures prices in the given week. Meanwhile, production cuts due to the military parade in early September have exerted a negative impact on iron ore prices. Moreover, five government departments in China have issued the Steel Industry Growth Stabilization Work Plan for 2025-2026, stating that China will implement precise regulation of production capacity and output, positively affecting sentiments in the steel market. However, the reduced steel output might weaken the demand for iron ore. It is expected that import iron ore prices will fluctuate in a limited range in the coming week.
Iron ore futures prices at Dalian Commodity Exchange have increased by 1.74 percent today to RMB 790.5/mt ($111.3/mt) compared to the previous trading day, August 27, while increasing by 2.3 percent compared to August 21.
As of August 28, rebar futures at Shanghai Futures Exchange are standing at RMB 3,129/mt ($441/mt), increasing by RMB 8/mt ($1.1/mt) or 0.26 percent since August 21, while up 0.55 percent compared to the previous trading day, August 27.
Imported iron ore prices in China (week-on-week basis)
| Product name | Iron Content |
Truck loaded price (RMB/mt) |
Change (RMB/mt) |
Price ($/mt) |
Change ($/mt) |
| Newman iron ore lump | 63/63.5 | 917 | 11 | 129.0 | 2.0 |
| Yandi fines | 58 / 59 | 741 | -2 | 104.3 | 0.1 |
| PB Fines | 62 | 768 | -2 | 108.1 | 0.1 |
| PB iron ore lump | 62/63 | 915 | -1 | 128.8 | 0.3 |
| Brazil fines | 63 | 802 | -7 | 112.9 | -0.6 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
| Place of origin | Market price （RMB/mt, Incl. VAT) | Change (RMB/mt) |
Price（$/mt) | Change ($/mt) |
| Tangshan | 887 | 8 | 125 | 2 |
| Beipiao | 831 | 12 | 117 | 2 |
Price includes VAT.
$1 = RMB 7.1063