Import iron ore prices in China have fluctuated within a limited range lately, posting only a small increase after the market resumed work after the long holiday, amid a gradual increase in iron ore futures prices.
Iron ore fines with 62 percent Fe content have risen by $1.7/mt on February 6 to $105.95/mt CFR. Moreover, this level is $1/mt above that seen on January 27, the last day before the holiday. Brazilian iron ore with 65 percent Fe has increased by $1.75/mt on February 6 to $120.2/mt CFR, while up $1.1/mt as compared to before the holiday, SteelOrbis has learned.
12 deals for a total of 217,000 mt iron ore have been signed at the Corex platform on February 6, including 80,000 mt of 62.2 percent Newman blended lumps sold at the March index + $0.1550/mt. Also, 10,000 mt of 61.45 percent Newman screened blocks have been traded at RMB 927/mt ($129.3/mt), for delivery to Tianjin port, and 5,000 mt of 65.6 percent pellet have been transacted at RMB 1,130/mt ($157.6/mt), for delivery at Huanghua port.
Downstream users may not come back to the market until after the Lantern Festival, and so cautious sentiments have prevailed among market players. It is thought that import iron ore prices in the Chinese market will likely edge up slightly in the coming week.
Iron ore futures prices at Dalian Commodity Exchange have increased by 1.43 percent today to RMB 817.5/mt ($114.0/mt) compared to the previous trading day, February 5, while increasing by RMB 16/mt ($2.2/mt) compared to January 23.
As of February 6, rebar futures at Shanghai Futures Exchange are standing at RMB 3,357/mt ($468/mt), increasing by RMB 5/mt ($0.7/mt) since January 23, while up 0.6 percent compared to the previous trading day, February 5.
Imported iron ore prices in China (week-on-week basis)
| Product name | Iron Content |
Truck loaded price (RMB/mt) |
Change (RMB/mt) |
Price ($/mt) |
Change ($/mt) |
| Newman iron ore lump | 63/63.5 | 915 | -1 | 127.6 | -0.1 |
| Yandi fines | 58/59 | 763 | -1 | 106.4 | -0.1 |
| PB Fines | 62 | 792 | -1 | 110.5 | -0.1 |
| PB iron ore lump | 62/63 | 927 | +2 | 129.3 | +0.3 |
| Brazil fines | 63 | 812 | +1 | 113.3 | +0.2 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
| Place of origin | Market price （RMB/mt, Incl. VAT) | Change (RMB/mt) |
Price（$/mt) | Change ($/mt) |
| Tangshan | 870 | +6 | 121 | +1 |
| Beipiao | 802 | 0 | 112 | 0 |
Price includes VAT.
$1 = RMB 7.1691