Import iron ore prices in China have moved up today, Thursday, December 1, while they have also indicated rises compared to last week amid futures price increases, the government stimulus, and the gradual improvement in both real trading and expectations.
Iron ore fines with 62 percent Fe content have edged up by $1.9/mt today to $103.1/mt CFR. This level is $6.7/mt above that seen a week ago. Brazilian iron ore with 65 percent Fe has indicated rises of $1.95/mt on December 1 to $116.25/mt CFR, up $11/mt week on week, SteelOrbis has learned.
On December 1, a contract for 90,000 mt of Newman fines with 62% Fe has been signed at $102.9/mt CFR. Two deals for 80,000 mt and 90,000 mt of 60.5 percent Jimblebar blended fines have been done at the January index -$5.3/mt, for shipment during January.
During the given week, import iron ore prices in the Chinese market have moved up amid increasing ferrous metal futures prices. Meanwhile, China has issued polices to stimulate the real estate industry, exerting a positive impact on market sentiments. The inventory of iron ore at ports will likely increase in the coming week, while deliveries of iron ore from Brazil and Australia may indicate declines, though remaining at relatively high levels. Though market players expect steelmakers to build up stocks for the winter, the actual level of such activities is still uncertain. It is thought that import iron ore prices in the Chinese market will move sideways or increase just slightly in the coming week.
Iron ore futures prices at Dalian Commodity Exchange have edged down by 0.07 percent to RMB 766.5/mt ($107.6/mt) compared to November 30, while increasing by 4.7 percent compared to November 24.
As of Thursday, December 1, rebar futures at the Shanghai Futures Exchange are standing at RMB 3,752/mt ($517/mt), rising by RMB 71/mt ($10.0/mt) or up 1.9 percent since November 24, while increasing by 0.19 percent compared to the previous trading day (November 30).
Imported iron ore prices in China (week-on-week basis)
|
Product name |
Iron |
Truck loaded price |
Change |
Price |
Change |
|
Newman iron ore lump |
63/63.5 |
875 |
34 |
122.8 |
4.7 |
|
Yandi fines |
58 / 59 |
664 |
17 |
93.2 |
2.3 |
|
PB Fines |
62 |
767 |
30 |
107.7 |
4.2 |
|
PB iron ore lump |
62/63 |
878 |
33 |
123.3 |
4.6 |
|
Brazil fines |
63 |
780 |
27 |
109.5 |
3.7 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
|
Place of origin |
Market price （RMB/mt, Incl. VAT) |
Change |
Price（$/mt) |
Change |
|
Tangshan |
826 |
25 |
116 |
3 |
|
Beipiao |
735 |
0 |
103 |
0 |
Price includes VAT.
$1 = RMB 7.1225