The imported iron ore market in China has risen slightly in the past week. Quoted prices from traders are relatively high and there is not much willingness to decrease prices, and so steel mills are not so eager to conclude purchases. Low grade iron ore supplies are few, while supplies of high grade materials are more plentiful. The trade volume has not shown any improvement. With the influence of costs and slackness of steel sales, the steel mills are trying to keep their inventories at low levels in order to avoid risks.
Imported iron ore prices
Product name |
Port |
Iron |
Place of origin |
Truck-loaded price |
Change |
Price |
Newman ore |
Qingdao |
62/63 |
Australia |
1,420 |
10 |
222.9 |
Carajas fines |
66/67 |
Brazil |
1,460 |
10 |
229.2 |
|
Yandi fines |
58 / 59 |
Australia |
1,180 |
10 |
185.2 |
|
MAC fines |
62 |
Australia |
1,270 |
10 |
199.4 |
|
PB fines |
62/63 |
Australia |
1,380 |
10 |
216.6 |
|
Indian fine ore |
63.5 |
India |
1,350 |
20 |
211.9 |
|
Indian fine ore |
63 |
India |
1,320 |
20 |
207.2 |
|
Indian fine ore |
62 |
India |
1,260 |
20 |
197.8 |
|
Indian fine ore |
61 |
India |
1,220 |
20 |
191.5 |
|
Indian fine ore |
59 |
India |
1,120 |
20 |
175.8 |
The prices of most grades of imported iron ore have risen by $1.56/mt week on week. The loaded-truck price of 63.5 percent Indian iron ore is reported at $211.9/mt.
As for domestic iron ore, the offered price of 66 percent iron ore concentrate is at $166.4/mt in Tangshan, same as last week, and stands at $160.2/mt in Beipiao, increasing by $3.13/mt week on week.
Nationwide iron ore concentrate prices
Product |
Specification |
Place of Origin |
Market price excluding tax (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
Domestic iron ore concentrate |
damp base (iron content: 66%) |
Tangshan |
1,165 |
183 |
+100 |
damp base (iron content: 66%) |
Beipiao |
1,025 |
161 |
+15 |
The domestic steel markets in China are expected to see some improvement in the remainder of the current year, with increased construction activity foreseen. Accordingly, domestic iron ore demand is also expected to increase. In the short term, the iron ore market in China is likely to follow a fluctuating upward trend.