Import iron ore prices in China have moved up sharply today, Thursday, April 15, and have posted a week-on-week increase amid firm demand from Chinese end-users and high profits. The price level of higher grade iron ore has reached a new record high.
Iron ore fines with 62 percent Fe content have moved up by $4.5/mt today compared to April 14 to $177/mt CFR. This level is $4.7/mt above that seen a week ago on April 8.
Brazilian iron ore with 65 percent Fe has surged by $6.9/mt today to $211.1/mt CFR, up $10.6/mt week on week, SteelOrbis has learned. The higher profits of steel mills in China and their intention to cut emissions have made demand for higher grade ore stronger. A deal for 110,000 mt of Brazilian 65 percent Fe fines has been closed at GlobalOre at $211.1/mt CFR today.
Trading activity has been lively at Chinese ports today. On April 15, 10 deals for 134,000 mt of iron ore have been concluded at the Corex platform. The biggest deal was for 20,000 mt of 61.61 percent PB fines at RMB 1,155.5/mt ($177/mt), for delivery at Lianyungang port.
During the given week, Chinese steelmakers’ profitability has been quite good, bolstering import iron ore prices. Though Hebei Province has implemented further production restrictions, the capacity utilization rates of blast furnaces in other regions of the country have risen due to the traditional peak season for business. Despite expectations for restrictions in Handan Province, they have not been announced and overall demand for iron ore has been healthy. It is thought that import iron ore prices will rise further in the coming week, according to sources.
Iron ore futures prices at Dalian Commodity Exchange have moved up by 3.56 percent today, coming to RMB 1,048.5/mt ($160.6/mt) compared to April 14, while rising by RMB 66/mt ($10.1/mt) or 6.72 percent compared to April 8.
As of Thursday, April 15, rebar futures at the Shanghai Futures Exchange are standing at RMB 5,107/mt ($782/mt), decreasing by RMB 8/mt ($1.2/mt) or 0.16 percent since April 8, while decreasing by 0.47 percent compared to the previous trading day (April 14).
Imported iron ore prices in China (week-on-week basis)
|
Product name |
Iron |
Truck loaded price |
Change |
Price |
Change |
|
Newman iron ore lump |
63/63.5 |
1,538 |
18 |
235.5 |
3.3 |
|
Yandi fines |
58 / 59 |
1,010 |
0 |
154.7 |
0.4 |
|
PB Fines |
62 |
1,176 |
41 |
180.1 |
6.7 |
|
PB iron ore lump |
62/63 |
1,568 |
13 |
240.1 |
2.6 |
|
Brazil fines |
63 |
1,238 |
46 |
189.6 |
7.5 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
|
Place of origin |
Market price （RMB/mt, Incl. VAT) |
Change |
Price（$/mt) |
Change |
|
Tangshan |
1,131 |
77 |
173 |
12 |
|
Beipiao |
1,017 |
23 |
156 |
4 |
Price includes VAT.
$1 = RMB 6.5297