Import iron ore prices in China have moved up today, Thursday, December 29, while they have also seen rises compared to last week, amid cautiously positive sentiments and expectations for gradual improvement in the demand-supply balance.
Iron ore fines with 62 percent Fe content have moved up by $1.65/mt today to $116/mt CFR. This level is $4.5/mt above that seen a week ago. Brazilian iron ore with 65 percent Fe has indicated a rise of $0.8/mt on December 29 to $131.6/mt CFR, up $3.7/mt week on week, SteelOrbis has learned.
On December 29, seven deals for a total of 110,000mt of iron ore have been concluded at the Corex platform for sales at ports, including a deal for 60,000 mt of Newman unscreened lump at RMB 930/mt ($133.3/mt), with delivery at Caofeidian port. Also, Pilbara fines Fe 62 percent have been traded at the January index +$1.6/mt.
During the given week, import iron ore prices edged down first, while moving up later amid news of heavy rainfalls in Brazil, which bolstered iron ore prices. The mass Covid-19 infections in China exerted a negative impact on the production of steel and weakened the support for iron ore prices. However, several blast furnaces are expected to resume production in the coming week, which will positively affect the demand for iron ore. It is expected that import iron ore prices may fluctuate within a limited range in the coming week.
Iron ore futures prices at Dalian Commodity Exchange have moved up by 3.4 percent to RMB 845/mt ($121/mt) compared to December 22, while increasing by 1.56 percent compared to December 28.
As of Thursday, December 29, rebar futures at the Shanghai Futures Exchange are standing at RMB 4,048/mt ($580/mt), increasing by RMB 87/mt ($12.5/mt) or up 2.2 percent since December 22, while increasing by 0.07 percent compared to the previous trading day (December 28).
Imported iron ore prices in China (week-on-week basis)
|
Product name |
Iron |
Truck loaded price |
Change |
Price |
Change |
|
Newman iron ore lump |
63/63.5 |
938 |
3 |
134.4 |
0.3 |
|
Yandi fines |
58 / 59 |
717 |
-3 |
102.7 |
-0.5 |
|
PB Fines |
62 |
832 |
6 |
119.2 |
0.7 |
|
PB iron ore lump |
62/63 |
943 |
8 |
135.1 |
1.0 |
|
Brazil fines |
63 |
847 |
10 |
121.4 |
1.3 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
|
Place of origin |
Market price （RMB/mt, Incl. VAT) |
Change |
Price（$/mt) |
Change |
|
Tangshan |
910 |
31 |
130 |
4 |
|
Beipiao |
819 |
0 |
117 |
0 |
Price includes VAT.
$1 = RMB 6.9793