Import iron ore prices in China have edged down slightly today, Thursday, December 2, both compared to yesterday and week on week, coming back to below $100/mt CFR again. This happened after the rebound seen earlier this week as demand concerns have returned.
Iron ore fines with 62 percent Fe content have edged down by $2.95/mt compared to December 1, to $99.05/mt CFR. This level is also $1.75/mt below that seen a week ago. Brazilian iron ore with 65 percent Fe has moved down by $2.4/mt on December 2 compared to December 1, to $116.4/mt CFR, which, however, is up $2.1/mt week on week, SteelOrbis has learned.
On December 2, two deals for 18,000 mt of iron ore have been concluded at ports. Around 80,000 mt of Mac fines have been traded at $90.4/mt CFR.
During the most of the given week, import iron ore prices have indicated a rebounding trend amid firm buying and rising futures. Though the scale of declines on the steelmakers’ side has decreased, steelmakers’ capacity utilization rates have not seen big rises, which has exerted a negative impact on the demand for import iron ore. Moreover, market sources said that production curbs will continued this month. After listing the previous measures in Tangshan on Tuesday, new curbs are expected to be implemented up to December 11. It is expected that import iron ore prices may fluctuate within a limited range in the coming week.
Iron ore futures prices at Dalian Commodity Exchange (main contract i2201) have moved down by 3.1 percent today, coming to RMB 609/mt ($95.6/mt), while rising by RMB 0.5/mt ($0.08/mt) or almost remaining stable compared to November 25.
As of Thursday, December 2, rebar futures at the Shanghai Futures Exchange are standing at RMB 4,288/mt ($673/mt) (main contact shifted from rb 2201 to rb 2205), increasing by RMB 33/mt ($5.2/mt) or 0.78 percent since November 25, while rising by 1.32 percent compared to the previous trading day (December 1).
Imported iron ore prices in China (week-on-week basis)
Product name |
Iron |
Truck loaded price |
Change |
Price |
Change |
Newman iron ore lump |
63/63.5 |
785 |
3 |
123.2 |
1.0 |
Yandi fines |
58 / 59 |
525 |
15 |
82.4 |
2.7 |
PB Fines |
62 |
680 |
-5 |
106.7 |
-0.3 |
PB iron ore lump |
62/63 |
800 |
13 |
125.5 |
2.5 |
Brazil fines |
63 |
708 |
-4 |
111.1 |
-0.2 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
Place of origin |
Market price (RMB/mt, Incl. VAT) |
Change |
Price($/mt) |
Change |
Tangshan |
765 |
0 |
120 |
0 |
Beipiao |
723 |
11 |
113 |
2 |
Price includes VAT.
$1 = RMB 6.3719