During the week ending October 13, prices of import iron ore for China have indicated a slight uptrend, while transaction activity for import iron ore has been at decent levels. At the same time, traders’ offers of domestic production iron ore in Tangshan and Liaoning Province have also seen a rising trend, with transaction activity for domestic production ore at medium levels.
At present, Indian fine ores of 63.5 percent grade are offered at $62.5/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $72.9/mt and prices of the same material are at $59.5/mt in Beipiao, Liaoning, both excluding VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the National Day Holiday period (October 1-7), iron ore prices moved on a stable trend amid slack activity. After the holiday, transaction activities have returned to normal levels and, with support from iron ore futures prices, iron ore prices in the spot market have also indicated rises. As it is now the peak season for steel consumption, market participants are mostly optimistic on the prospects for the iron ore market in the coming period. At the same time, coke prices have also shown a rising trend, which will exert a positive impact on the trend of iron ore prices. It is thought that iron ore prices in the Chinese market will continue their uptrend in the coming week.
Domestic iron ore prices in local Chinese market
| Product | Spec. | Place of Origin | Market price excluding tax (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
| Domestic iron ore concentrate | damp base (iron content: 66%) | Tangshan | 490 | 73 | ↑10 |
| damp base (iron content: 66%) | Beipiao | 400 | 59 | ↑10 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
Imported iron ore prices in local Chinese market
| Product Name | Name of Port | Iron Content % | Place of origin | Truck loaded price (RMB/mt) | Price($/mt) | Weekly Change (RMB/mt) |
| PB iron ore lump | Qingdao | 63/63.5 | Australia | 555-565 | 82-84 | ↑10 |
| Brazil fines | 63,5 | Brazil | 435-445 | 64-66 | ↑10 | |
| Yandi fines | 58 / 59 | Australia | 385-395 | 57-59 | ↑10 | |
| PB Fines | 61.5 | Australia | 445-455 | 66-67 | ↑10 | |
| PB iron ore lump | 62 | Australia | 545-555 | 81-82 | ↑10 | |
| Indian fine ore | 63.5 | India | 415-425 | 62-63 | ↑10 | |
| Indian fine ore | 63 | India | 405-415 | 60-63 | ↑10 | |
| Indian fine ore | 62 | India | 395-405 | 59-60 | ↑10 | |
| Indian fine ore | 61 | India | 385-395 | 57-59 | ↑10 | |
| Indian fine ore | 59 | India | 355-365 | 53-54 | ↑10 |
The prices are deal prices in local market.
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.73