Import iron ore prices in China have moved up on Thursday, October 14, compared to October 13, while they are also higher compared to October 8, the first day after the holiday. Higher demand has supported prices.
Iron ore fines with 62 percent Fe content have edged up by $1.55/mt compared to October 13 to $125.25/mt CFR. This level is $1.25/mt above that seen an October 8. Brazilian iron ore with 65 percent Fe has moved up to $150.6/mt CFR, up by $5.1/mt today and up $4.3/mt from last Friday, SteelOrbis has learned.
On October 14, a higher number of deals for iron ore have been concluded compared to the previous days in both the seaborne market and from ports. A deal at COREX was for 100,000 mt of 62.0 percent PB fines, at the November index + $1/mt. Also, Mac fines have changed hands at $116.3/mt CFR, up from $114.15/mt CFR and $113.9/mt CFR signed in deals for the same grade yesterday. Also, 170,000 mt of Pilbara fines have been sold at $125.9/mt CFR at GlobalOre and BFBF fines with low alumina content, at $127.6/mt CFR.
During the given week, import iron ore prices have moved up amid improved demand following the easing of energy consumption reductions and production restrictions. Blast furnaces of steelmakers have resumed production, exerting a positive impact on the demand for iron ore. It is thought that import iron ore prices may edge up in the coming week.
Iron ore futures prices at Dalian Commodity Exchange (main contract i2201) have moved down by 2.9 percent today to RMB 736/mt ($114.3/mt), while rising by RMB 14.5/mt ($8.4/mt) or 2.0 percent compared to September 30.
As of Thursday, October 14, rebar futures at the Shanghai Futures Exchange are standing at RMB 5,465/mt ($849/mt), decreasing by RMB 241/mt ($9.9/mt) or 4.2 percent since September 30, while decreasing by 0.16 percent compared to the previous trading day (October 13).
Imported iron ore prices in China (week-on-week basis)
|
Product name |
Iron |
Truck loaded price |
Change |
Price |
Change |
|
Newman iron ore lump |
63/63.5 |
1,030 |
58 |
159.9 |
10.0 |
|
Yandi fines |
58 / 59 |
728 |
13 |
113.0 |
2.8 |
|
PB Fines |
62 |
876 |
27 |
136.0 |
5.1 |
|
PB iron ore lump |
62/63 |
1,025 |
72 |
159.1 |
12.2 |
|
Brazil fines |
63 |
906 |
26 |
140.7 |
5.0 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
|
Place of origin |
Market price （RMB/mt, Incl. VAT) |
Change |
Price（$/mt) |
Change |
|
Tangshan |
1,019 |
109 |
158 |
18 |
|
Beipiao |
961 |
102 |
149 |
17 |
Price includes VAT.
$1 = RMB 6.4414