Iron ore prices in China have fluctuated within a limited range in the past week as the market reflected some slight positive signs in the steel market and higher demand, while, on the other hand, significant price changes compared to the past week have been impossible in the absence of major changes in demand fundamentals.
On September 18, prices for ex-Australia iron ore fines with 62 percent Fe content are at $104.5/mt CFR, decreasing by $0.5/mt from the previous day, while decreasing by $0.1/mt over the past week. Also, ex-Brazil fines with 65 percent Fe are priced at $121.4/mt CFR, down $0.6/mt from the previous day, while declining by $0.7/mt compared to September 11.
16 deals totaling 285,100 mt of iron ore have been signed at the Corex platform today, September 18. In particular, 45,995 mt of 61.44 percent Fe fines have been traded at RMB 814/mt ($114.6/mt), for delivery at Bayuquan port, 25,000 mt of 61.01 percent Fe PB fines were transacted at RMB 800/mt ($112.7/mt), for delivery at Tianjin port, and 18,597 mt of Fe Jimblebar blended fines were sold at RMB 785/mt ($110.6/mt), for delivery at Tianjin port.
During the given week, iron ore futures prices have fluctuated within a limited range. The reduction in overseas iron ore supply has bolstered prices to a certain degree. Meanwhile, molten iron outputs have rebounded to their previous level, exerting a positive impact on the demand for iron ore. As for the coming period, the delivery of iron ore in the global market will increase, while stock replenishments ahead of the National Day holiday (October 1-8) are expected to provide some support for prices. It is thought that import iron ore prices may edge up slightly in the coming week.
Iron ore futures prices at Dalian Commodity Exchange have decreased by 0.12 percent today to RMB 800/mt ($112.7/mt) compared to the previous trading day, September 17, while increasing by 0.6 percent compared to September 11.
As of September 18, rebar futures at Shanghai Futures Exchange are standing at RMB 3,147/mt ($443/mt), increasing by RMB 55/mt ($7.7/mt) or 1.8 percent since September 11, while down 0.25 percent compared to the previous trading day, September 17.
Imported iron ore prices in China (week-on-week basis)
| Product name | Iron Content |
Truck loaded price (RMB/mt) |
Change (RMB/mt) |
Price ($/mt) |
Change ($/mt) |
| Newman iron ore lump | 63/63.5 | 921 | -12 | 129.6 | -1.8 |
| Yandi fines | 58 / 59 | 766 | -6 | 107.8 | -0.9 |
| PB Fines | 62 | 793 | -6 | 111.5 | -0.9 |
| PB iron ore lump | 62/63 | 923 | -13 | 129.8 | -1.9 |
| Brazil fines | 63 | 818 | -2 | 115.1 | -0.4 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
| Place of origin | Market price （RMB/mt, Incl. VAT) | Change (RMB/mt) |
Price（$/mt) | Change ($/mt) |
| Tangshan | 902 | -4 | 127 | -1 |
| Beipiao | 836 | 5 | 118 | 1 |
Price includes VAT.
$1 = RMB 7.1085