Today, Thursday, October 15, iron ore prices have seen slight declines compared to yesterday, while indicating big declines compared to October 9. Higher supply and demand worries have forced prices to fluctuate below $120/mt CFR.
Iron ore fines with 62 percent Fe content have edged down by $0.4/mt today to $118.4/mt CFR, down by $6.9/mt from last Friday. Brazilian iron ore with 65 percent Fe has edged down by $0.3/mt on the same day to $132.4/mt CFR, SteelOrbis has learned.
90,000 mt of Yandi fines have been sold at December index + $2/mt. Also, 170,000 mt of Pilbara fines with 62 percent Fe have been traded at $118.4/mt CFR.
During the given week, import iron ore prices have mostly edged down amid the high levels of deliveries from miners and of iron ore supplies at Chinese ports. Meanwhile, the production restrictions for environmental protection in Tangshan have resulted in slacker demand for iron ore. The stock replenishment for iron ore following the long holiday provided certain support for prices just after the holidays, but then the price level slipped to below $120/mt CFR and this has become more reasonable for buyers.
Iron ore futures prices at Dalian Commodity Exchange have edged down by 2.17 percent today, coming to RMB 787.5/mt ($117/mt) compared to October 14, while decreasing by 2.7 percent compared to September 30 as expected stock replenishment for the long holiday pushed up iron ore futures prices significantly at first, while production restrictions on steelmakers in Tangshan weakened the forecast for iron ore demand later.
On Thursday, rebar futures at the Shanghai Futures Exchange are standing at 3,612/mt ($536/mt), increasing by RMB 52/mt ($7.7/mt) or 1.5 percent since September 30, while decreasing by 0.28 percent compared to the previous trading day.
Imported iron ore prices in China (week-on-week basis)
|
Product name |
Iron |
Truck loaded price |
Change |
Price |
Change |
|
Newman iron ore lump |
63/63.5 |
938 |
4 |
139.2 |
1.9 |
|
Yandi fines |
58 / 59 |
846 |
-12 |
125.6 |
-0.5 |
|
PB Fines |
62 |
880 |
-2 |
130.6 |
1.0 |
|
PB iron ore lump |
62/63 |
958 |
23 |
142.2 |
4.8 |
|
Brazil fines |
63 |
914 |
-22 |
135.7 |
-1.9 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
|
Place of origin |
Market price （RMB/mt, Incl. VAT) |
Change |
Price（$/mt) |
Change |
|
Tangshan |
888 |
-15 |
132 |
-1 |
|
Beipiao |
825 |
-6 |
122 |
0 |
Price includes VAT.
$1 = RMB 6.7374