Import iron ore prices in China have increase today, Thursday, December 12, and also compared to December 5 amid higher futures prices and better expectations. But market sources do not see this as a firm uptrend due to lower steel production and weaker demand for the raw material.
Iron ore fines with 62 percent Fe content have indicated a rise of $1.4/mt on December 12 to $106.7/mt CFR. This level is $1.9/mt above that was seen on December 5. Brazilian iron ore with 65 percent Fe content has increased by $1.55/mt on December 12 to $121/mt CFR, while up $2.1/mt week on week, SteelOrbis has learned.
10 deals for a total of 93,200 mt of iron ore have been signed at the Corex platform on December 12.
During the given week, import iron ore prices in the Chinese domestic market have fluctuated within a limited range with a positive bias. Steelmakers’ outputs of molten iron have declined more than expected, exerting a negative impact on the demand for iron ore. The inventory of iron ore has increased slightly, weakening the support for prices. However, market players expect steelmakers to build up some inventories for the winter, which will bolster prices to a certain degree. The production of molten iron may decrease next week, which will reduce demand for iron ore. It is thought that import iron ore prices may edge down in the coming week.
Iron ore futures prices at Dalian Commodity Exchange have increased by 1.25 percent today at RMB 812.5/mt ($113.1/mt) compared to the previous trading day, December 12, while increasing by RMB 12/mt ($1.7/mt) compared to December 5.
As of December 12, rebar futures at Shanghai Futures Exchange are standing at RMB 3,428/mt ($477/mt), increasing by RMB 148/mt ($20.6/mt) or 4.5 percent since December 5, while up 0.59 percent compared to the previous trading day, December 11.
Imported iron ore prices in China (week-on-week basis)
Product name |
Iron |
Truck loaded price |
Change |
Price |
Change |
Newman iron ore lump |
63/63.5 |
903 |
-7 |
125.7 |
-0.9 |
Yandi fines |
58/59 |
755 |
-4 |
105.1 |
-0.5 |
PB Fines |
62 |
790 |
-4 |
110.0 |
-0.5 |
PB iron ore lump |
62/63 |
897 |
-8 |
124.8 |
-1.1 |
Brazil fines |
63 |
805 |
-10 |
112.0 |
-1.3 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
Place of origin |
Market price (RMB/mt, Incl. VAT) |
Change |
Price（$/mt) |
Change |
Tangshan |
873 |
-16 |
122 |
-2 |
Beipiao |
831 |
+6 |
116 |
+1 |
Price includes VAT.
$1 = RMB 7.1854