Import iron ore prices in China have edged down slightly today, Thursday, October 13, while indicated decreases compared to last week. Iron ore futures prices decreased by 2.45 percent on October 13.
Iron ore fines with 62 percent Fe content have edged down by $1.6/mt today to $94.4/mt CFR. This level is also $1.4/mt below that seen two weeks ago before the holidays. Brazilian iron ore with 65 percent Fe has decreased by $1.45/mt on October 13 to $108.35/mt CFR, down $0.65/mt in two weeks, SteelOrbis has learned.
On October 13, thirteen deals of 175,800 mt of iron ore have been done, but only from ports. In general the trading activity has slowed down significantly today compared to Monday-Tuesday, when traders have been active after the holidays.
During the given week, import iron ore prices have edged down slightly. Only part of steelmakers replenished their stocks following the long holiday. Iron ore volumes arriving at ports continued to increase. Steelmakers’ capacity utilization rates are expected to increase and stand at relatively high level in the second half of the month, which will exert a positive impact on the demand for iron ore. However, there will be production restrictions during the October 14-22 period in Hebei province, which will likely weaken the support to iron ore market. It is expected that import iron ore prices may edge up slightly in the coming week, but in general prices will fluctuate in the limited range.
Iron ore futures prices at Dalian Commodity Exchange have moved down by 2.45 percent to RMB 696/mt ($98/mt) compared to October 12, while decreasing by 3.7 percent compared to September 29.
As of Thursday, October 13, rebar futures at the Shanghai Futures Exchange are standing at RMB 3,719/mt ($523/mt), increasing by RMB 117/mt ($16.5/mt) or up 3.05 percent since September 29, while decreasing by 0.61 percent compared to the previous trading day (October 12).
Imported iron ore prices in China (week-on-week basis)
|
Product name |
Iron |
Truck loaded price |
Change |
Price |
Change |
|
Newman iron ore lump |
63/63.5 |
901 |
-2 |
126.7 |
-0.3 |
|
Yandi fines |
58 / 59 |
691 |
-11 |
97.2 |
-1.5 |
|
PB Fines |
62 |
740 |
-13 |
104.1 |
-1.8 |
|
PB iron ore lump |
62/63 |
901 |
1 |
126.7 |
0.1 |
|
Brazil fines |
63 |
771 |
-17 |
108.4 |
-2.4 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
|
Place of origin |
Market price （RMB/mt, Incl. VAT) |
Change |
Price（$/mt) |
Change |
|
Tangshan |
838 |
-15 |
118 |
-2 |
|
Beipiao |
780 |
17 |
110 |
2 |
Price includes VAT.
$1 = RMB 7.1101