Import iron ore prices in China have increased week on week as futures prices have been rising and since supply from the main sellers has eased, while mills have been showing moderate demand and preparing for the Chinese New year holiday.
Iron ore fines with 62 percent Fe content have increased by $2.1/mt on January 16 to $102.5/mt CFR. This level is $5.25/mt above that seen on January 9, reflecting the change of trend. Brazilian iron ore with 65 percent Fe has risen by $2.2/mt today to $117.1/mt CFR, while up $5.3/mt week on week, SteelOrbis has learned.
Eight deals for a total of 182,000 mt iron ore have been signed at the Corex platform on January 16, including 90,000 mt of 60.6 percent Fe Mac fines sold at $97.1/mt CFR for shipment during February 19-28.
During the given week, import iron ore prices in the Chinese have edged up amid increasing iron ore futures prices. The outputs of molten iron have decreased, exerting a negative impact on the demand for iron ore. However, the deliveries of iron ore in the global market have decreased, bolstering prices to a certain degree. It is expected that import iron ore prices in the Chinese market will fluctuate within a limited range in the coming week as the majority of mills have finished or almost finished active restocking ahead of the holiday.
In addition, some appreciation of the Chinese currency has supported import iron ore prices.
Iron ore futures prices at Dalian Commodity Exchange have increased by 1.92 percent today at RMB 797/mt ($111/mt) compared to the previous trading day, January 15, while increasing by RMB 42.5/mt ($5.9/mt) compared to January 9.
As of January 16, rebar futures at Shanghai Futures Exchange are standing at RMB 3,327/mt ($463/mt), increasing by RMB 122/mt ($17/mt) since January 9, while up 1.22 percent compared to the previous trading day, January 15.
Imported iron ore prices in China (week-on-week basis)
Product name |
Iron |
Truck loaded price |
Change |
Price |
Change |
Newman iron ore lump |
63/63.5 |
906 |
+18 |
126.0 |
+2.5 |
Yandi fines |
58/59 |
757 |
+32 |
105.3 |
+4.5 |
PB Fines |
62 |
786 |
+32 |
109.3 |
+4.5 |
PB iron ore lump |
62/63 |
919 |
+34 |
127.9 |
+4.7 |
Brazil fines |
63 |
807 |
+32 |
112.3 |
+4.5 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
Place of origin |
Market price （RMB/mt, Incl. VAT) |
Change |
Price（$/mt) |
Change |
Tangshan |
868 |
+18 |
121 |
+3 |
Beipiao |
802 |
-6 |
112 |
-1 |
Price includes VAT.
$1 = RMB 7.1881