Import iron ore prices in China have seen increases today, Thursday, September 19 amid the improvement in mood and buying activity, though in general the price is still below last week’s level due to weak fundamentals.
Iron ore fines with 62 percent Fe content have indicated a rise of $2.1/mt on September 19 to $92.3/mt CFR. This level is $1.95/mt below that seen on September 12. Brazilian iron ore with 65 percent Fe has increased by $1.95/mt on September 19 to $105.05/mt CFR, while down $2.25/mt week on week, SteelOrbis has learned.
42 deals for a total of 840,800 iron ore were transacted on the Corex platform on September 19. In particular, two respective deals for 90,000 mt each of 61.7 percent Newman fines were signed at $89.95/mt CFR for shipment during October 16-25 and October 21-30, while 80,000 mt of 62.2 percent Newman blended fines were traded at the October index + $0.115/mt for shipment during October 21-30.
During the given week, import iron ore prices in the Chinese market have edged down amid the increasing supplies arriving at ports. Production of molten iron has risen slightly, while steelmakers have been cautious in concluding purchases due to the losses they have been incurring. Market players expect downstream users may replenish stocks of iron ore ahead of the National Day holiday (October 1-7). It is thought that import iron ore prices may fluctuate within a limited range in the coming week.
Iron ore futures prices at Dalian Commodity Exchange have increased by 1.69 percent today to RMB 693/mt ($97.6/mt) compared to the previous trading day, September 18.
As of September 19, rebar futures at Shanghai Futures Exchange are standing at RMB 3,206/mt ($451.5/mt), increasing by RMB 21/mt ($3.0/mt) or 0.66 percent since September 12, while up 1.14 percent compared to the previous trading day, September 18.
Imported iron ore prices in China (week-on-week basis)
Product name |
Iron |
Truck loaded price |
Change |
Price |
Change |
Newman iron ore lump |
63/63.5 |
805 |
-20 |
113.4 |
-2.4 |
Yandi fines |
58/59 |
612 |
-21 |
86.2 |
-2.7 |
PB Fines |
62 |
675 |
-21 |
95.1 |
-2.6 |
PB iron ore lump |
62/63 |
800 |
-25 |
112.7 |
-3.1 |
Brazil fines |
63 |
683 |
-25 |
96.2 |
-3.2 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
Place of origin |
Market price (RMB/mt, Incl. VAT) |
Change |
Price（$/mt) |
Change |
Tangshan |
844 |
-20 |
119 |
-2 |
Beipiao |
785 |
34 |
111 |
+5 |
Price includes VAT.
$1 = RMB 7.0983
