Import iron ore prices in China have moved up today, Thursday, June 17 compared to June 16, while also rising compared to last week, supported by healthy demand, especially from Chinese ports.
Iron ore fines with 62 percent Fe content have edged up by $3.7/mt compared to June 16, to $217.2/mt CFR. And this level is also $2.7/mt above that seen a week ago on June 10.
Brazilian iron ore with 65 percent Fe price has seen a rise of $6/mt today to $251.5/mt CFR, up $6.55/mt week on week, SteelOrbis has learned. At the GlobalOre platform, a contract for 170,000 mt of 65 percent Fe material has been signed today at this price level.
In addition, 170,000 mt of Pilbara fines have been traded at the July index + $10.4/mt, also at GlobalOre.
On June 17, 19 deals totaling 304,000 mt of iron ore have been concluded at the COREX platform, mostly at Chinese ports. Among the deals was one for 10,000 mt of 65 percent fines, at RMB 1,740.5/mt ($270.7/mt), for delivery at Lanshan port.
During the given week, import iron ore prices have risen slightly as traders built up some stocks. At the same time, high Fe-content iron ore has been in short supply at the ports, bolstering prices. Accidents at local mines have been reported recently, and so traders think that import iron ore prices may gain support and they have been willing to build up stocks. However, demand for iron ore may slacken in the traditional offseason amid production restrictions facing steelmakers in eastern and northern China. It is thought that import iron ore prices may edge down slightly in the coming week.
Iron ore futures prices at Dalian Commodity Exchange have moved up by 3.86 percent today, coming to RMB 1,223.5/mt ($190/mt) compared to June 10, while also improving by one percent from yesterday.
As of Thursday, June 17, rebar futures at the Shanghai Futures Exchange are standing at RMB 5,101/mt ($793.3/mt), decreasing by RMB 65/mt ($10.1/mt) or 1.26 percent since June 10, while increasing by 0.26 percent compared to the previous trading day (June 16).
Imported iron ore prices in China (week-on-week basis)
|
Product name |
Iron |
Truck loaded price |
Change |
Price |
Change |
|
Newman iron ore lump |
63/63.5 |
1,850 |
45 |
287.7 |
5.6 |
|
Yandi fines |
58 / 59 |
1,185 |
35 |
184.3 |
4.5 |
|
PB Fines |
62 |
1,485 |
40 |
230.9 |
5.1 |
|
PB iron ore lump |
62/63 |
1,905 |
45 |
296.3 |
5.5 |
|
Brazil fines |
63 |
1,572 |
32 |
244.5 |
3.7 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
|
Place of origin |
Market price （RMB/mt, Incl. VAT) |
Change |
Price（$/mt) |
Change |
|
Tangshan |
1,422 |
35 |
221 |
4 |
|
Beipiao |
1,401 |
79 |
218 |
11 |
Price includes VAT.
$1 = RMB 6.4298