Iron ore prices in China have seen slight changes in the week ending April 3, and in general sentiments remain more on the negative side.
Today, April 3, prices for ex-Australia iron ore fines with 62 percent Fe content are at $102.35/mt, down $1.25/mt from yesterday, while down $1.4/mt week on week. Also, ex-Brazil fines with 65 percent Fe are priced at $115/mt CFR, down $1.3/mt compared to yesterday, while decreasing by $1.55/mt over the past week.
In particular, 22 deals for a total of 311,100 mt of iron ore have been transacted on April 3 at the Corex platform, including 80,000 mt of 61.7 percent Fe Newman fines at $98.6/mt CFR, for delivery during May 1-10.
During the given week, import iron ore prices in the Chinese market have fluctuated within a limited range. Production cuts in the steel market have bolstered finished steel prices to a certain degree, while demand from downstream users has improved slightly. Steelmakers’ profitability has improved somewhat, which may result in more steel plants resuming production following the Tomb Sweeping Day holiday (April 4-6), which would exert a positive impact on the demand for iron ore. The inventory of iron ore at ports has remained stable in the given week, but is expected to decrease in the coming week. It is expected that import iron ore prices in the Chinese market will continue to fluctuate within a limited range in the coming week with some small improvement possible if steel prices rise.
Iron ore futures prices at Dalian Commodity Exchange have declined by 0.32 percent today to RMB 788.5/mt ($110/mt) compared to the previous trading day, April 2, while decreasing by RMB 0.5/mt compared to March 27.
As of April 3, rebar futures at Shanghai Futures Exchange are standing at RMB 3,164/mt ($441/mt), decreasing by RMB 44/mt ($6.1/mt) or 1.4 percent since March 27, while down 0.19 percent compared to the previous trading day, April 2.
Imported iron ore prices in China (week-on-week basis)
Product name |
Iron |
Truck loaded price |
Change |
Price |
Change |
Newman iron ore lump |
63/63.5 |
902 |
23 |
125.7 |
3.2 |
Yandi fines |
58 / 59 |
759 |
27 |
105.8 |
3.7 |
PB Fines |
62 |
788 |
27 |
109.8 |
3.7 |
PB iron ore lump |
62/63 |
913 |
24 |
127.2 |
3.3 |
Brazil fines |
63 |
796 |
27 |
110.9 |
3.7 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
Place of origin |
Market price （RMB/mt, Incl. VAT) |
Change |
Price（$/mt) |
Change |
Tangshan |
870 |
8 |
121 |
1 |
Beipiao |
819 |
0 |
114 |
0 |
Price includes VAT.
$1 = RMB 7.1889