Import iron ore prices in China have edged up today, Thursday, September 15, while also indicating increases compared to last week. But the latest increases have been very moderate as demand for steel and arrivals of iron ore to Chinese ports have been affected by the typhoon Muifa.
Iron ore fines with 62 percent Fe content have edged up by $0.4/mt today to $101.3/mt CFR. This level is $1.5/mt above that seen a week ago. Brazilian iron ore with 65 percent Fe has risen by $0.55/mt on September 15 to $114.55/mt CFR, up $1.85/mt week on week, SteelOrbis has learned.
On September 15, 90,000 mt of 62.3 percent Newman fines were sold at $101.3/mt CFR, shipment during October 8-17. A deal for 20,000 mt of 56.82 percent FMG super special fines has been done at RMB 668/mt ($96.7/mt), delivery at Caofeidian port.
During the given week, import iron ore prices edged up as iron ore arriving at the ports decreased significantly amid the typhoon Muifa hitting China. Meanwhile, the accident in the domestic mines resulted in production halts, garnering market players’ worries about the supply of iron ore, which bolstered iron ore prices. When the typhoon weather effect is over, the iron ore arriving at the ports will increase, while the capacity utilization rates of steelmakers’ blast furnaces will also eye rises. Meanwhile, as it is approaching to the National Day holiday (October 1-7), steelmakers may build up stock ahead of the long holiday. It is expected that import iron ore prices will likely edge up in the coming week.
Iron ore futures prices at Dalian Commodity Exchange have edged up by 0.7 percent to RMB 722.5/mt ($104.6/mt) compared to September 14, while increasing by 2.3 percent compared to September 8.
As of Thursday, September 15, rebar futures at the Shanghai Futures Exchange are standing at RMB 3,722/mt ($539/mt), increasing by RMB 3/mt ($0.4/mt) or almost remaining stable since September 8, while decreasing by 0.4 percent compared to the previous trading day (September 14).
Imported iron ore prices in China (week-on-week basis)
|
Product name |
Iron |
Truck loaded price |
Change |
Price |
Change |
|
Newman iron ore lump |
63/63.5 |
864 |
4 |
125.0 |
0.7 |
|
Yandi fines |
58 / 59 |
704 |
23 |
101.9 |
3.4 |
|
PB Fines |
62 |
758 |
18 |
109.7 |
2.7 |
|
PB iron ore lump |
62/63 |
866 |
4 |
125.3 |
0.7 |
|
Brazil fines |
63 |
788 |
8 |
114.0 |
1.2 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
|
Place of origin |
Market price （RMB/mt, Incl. VAT) |
Change |
Price（$/mt) |
Change |
|
Tangshan |
848 |
23 |
123 |
3 |
|
Beipiao |
768 |
22 |
111 |
3 |
Price includes VAT.
$1 = RMB 6.9101