Iron ore prices have moved up compared to that recorded on November 25 and they have posted some slight rises compared to the previous week amid stable demand and not as bad as earlier expectations for the steel market for the near future.
Iron ore fines with 62 percent Fe content have edged up by $2/mt today, November 26, to $129.5/mt CFR, while up by $1.3/mt week on week. Brazilian iron ore with 65 percent Fe has risen by $1.5/mt on the same day to $141/mt CFR, up by $1.7/mt week on week, SteelOrbis has learned.
The deal for 80,000 mt of Jimblebar fines from Australia has been signed at January index - $0.5/mt. Another cargo of 170,000 mt of Pilbara fines have been sold at January index +$4.8/mt, while 170,000 mt of BRBF fines have changed hands at $128.1/mt CFR.
Two deals of iron ore from ports have been concluded on November 26, including 10,000 mt and 10,000 mt of 61.69 percent Fe content and 61.45 percent Fe content PB fines at price of RMB 885/mt ($134.5/mt), at Caofeidian port.
During the week, import iron ore prices in China have fluctuated within a limited range amid stable demand from steelmakers, though cold rainy weather has put pressure on steel prices. The volumes of iron ore supplies arrived at ports, especially Brazilian fines increased, exerting a negative impact on its prices. But the iron ore shipments will likely decrease in the coming week amid the increasing maintenance of Australian and Brazilian berths, which may support prices. Market players expected for the stock replenishment for winter season, both for finished steel and raw materials, which may positively affect iron ore market.
Iron ore futures prices at Dalian Commodity Exchange have edged up by 2.11 percent today, coming to RMB 897/mt ($136.4/mt) compared to November 25, while increasing by 2.3 percent compared to November 19.
On Thursday, rebar futures at the Shanghai Future Exchange are standing at 3,884/mt ($591/mt), decreasing by RMB 56/mt ($8.5/mt) or 1.42 percent since November 19, while increasing by 0.08 percent compared to the previous trading day.
Imported iron ore prices in China (week-on-week basis)
|
Product name |
Iron |
Truck loaded price |
Change |
Price |
Change |
|
Newman iron ore lump |
63/63.5 |
920 |
-5 |
139.9 |
-1.4 |
|
Yandi fines |
58 / 59 |
820 |
-7 |
124.7 |
-1.6 |
|
PB Fines |
62 |
876 |
-9 |
133.2 |
-2.0 |
|
PB iron ore lump |
62/63 |
934 |
-3 |
142.0 |
-1.1 |
|
Brazil fines |
63 |
893 |
-9 |
135.8 |
-2.0 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
|
Place of origin |
Market price （RMB/mt, Incl. VAT) |
Change |
Price（$/mt) |
Change |
|
Tangshan |
895 |
23 |
136 |
3 |
|
Beipiao |
842 |
17 |
128 |
2 |
Price includes VAT.
$1 = RMB 6.578