Iron ore prices in China have seen slight changes over the past two days and a slight increase compared to last week as both demand and supply have been on the higher side. Demand for iron ore is expected to increase after the National Day holiday (October 1-8), but any price rises will depend strongly on the situation in the steel segment, especially considering the recent decline in mills’ profitability.
Today, September 25, prices for ex-Australia iron ore fines with 62 percent Fe content are at $105.7/mt CFR, decreasing by $0.1/mt from the previous day, while up $1.2/mt over the past week. Ex-Brazil fines with 65 percent Fe are priced at $121.8/mt CFR, losing $0.2/mt from the previous day and increasing by $0.4/mt compared to Thursday last week.
Nine deals totaling 166,900 mt of iron ore have been signed at the Corex platform on September 25. In particular, 40,000 mt of 60.18 percent Fe Mac fines were sold at RMB 788/mt ($111/mt), for delivery at Caofeidian port, 40,000 mt of 61.5 percent Fe fines were transacted at RMB 792/mt ($111.5/mt), for delivery at Caofeidian port, and 10,000 mt of 60.93 percent Fe Mac fines were sold at RMB 792/mt ($111.5/mt), also for delivery at Caofeidian port.
During the given week, iron ore futures prices have indicated slight rises, bolstering market sentiments to a certain degree. Steelmakers’ profitability has decreased, while molten iron output is on the higher side, positively affecting demand for iron ore. Demand for steel has improved slightly ahead of the long National Day holiday, slowing down the pace of inventory build-ups. Global iron ore shipments are foreseen to be at high levels, resulting in increased deliveries at ports in the coming week, and likely exerting a negative impact on iron ore prices. Iron ore prices are expected to fluctuate within a limited range in the week ahead.
Iron ore futures prices at Dalian Commodity Exchange have increased by 0.25 percent today to RMB 805.5/mt ($113.5/mt) compared to the previous trading day, September 24, while increasing by 0.7 percent compared to September 18.
As of September 25, rebar futures at Shanghai Futures Exchange are standing at RMB 3,167/mt ($446/mt), increasing by RMB 20/mt ($2.8/mt) or 0.6 percent since September 18, while up 0.32 percent compared to the previous trading day, September 24.
Imported iron ore prices in China (week-on-week basis)
| Product name | Iron Content |
Truck loaded price (RMB/mt) |
Change (RMB/mt) |
Price ($/mt) |
Change ($/mt) |
| Newman iron ore lump | 63/63.5 | 920 | -1 | 129.4 | -0.2 |
| Yandi fines | 58 / 59 | 770 | 4 | 108.3 | 0.5 |
| PB Fines | 62 | 791 | -2 | 111.2 | -0.3 |
| PB iron ore lump | 62/63 | 924 | 1 | 129.9 | 0.1 |
| Brazil fines | 63 | 825 | 7 | 116.0 | 0.9 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
| Place of origin | Market price （RMB/mt, Incl. VAT) | Change (RMB/mt) |
Price（$/mt) | Change ($/mt) |
| Tangshan | 902 | 0 | 127 | 0 |
| Beipiao | 848 | 12 | 119 | 2 |
Price includes VAT.
$1 = RMB 7.1118