Iron ore prices in China have seen slight changes in the past week. Market sentiments have improved slightly as US President Trump gave signals of a softer stance on tariffs, and overall demand for steel and iron ore has been relatively firm. As a result, expectations for next week are cautiously optimistic.
On April 24, prices for ex-Australia iron ore fines with 62 percent Fe content are at $99.7/mt CFR, down by $0.75/mt from the prevous day, while up by $1.4/mt over the past week. Also, ex-Brazil fines with 65 percent Fe are priced at $111.65/mt CFR, $0.85/mt lower than on April 23, but $1.2/mt higher week on week.
22 deals totaling 707,400 mt of iron ore have been signed at the Corex platform on April 24, reflecting firm demand.
During the given week, import iron ore prices have fluctuated within a limited range. Demand for rebar has been quite good in the given week, bolstering demand for iron ore. At the same time, ahead of the Labor Day holiday (May 1-5), there will be some replenishment of iron ore stocks, which will exert a positive impact on prices. Both supply and demand in the iron ore market have increased in the given period. It is expected that import iron ore prices in the Chinese domestic market will edge up slightly in the coming week.
Iron ore futures prices at Dalian Commodity Exchange have declined by 0.28 percent today to RMB 720.5/mt ($100/mt) compared to the previous trading day, April 23, while rising by 1.9 percent compared to April 17.
As of April 24, rebar futures at Shanghai Futures Exchange are standing at RMB 3,106/mt ($431/mt), increasing by RMB 14/mt ($2/mt) or 0.45 percent since April 17, while down 0.1 percent compared to the previous trading day, April 23.
Imported iron ore prices in China (week-on-week basis)
| Product name | Iron Content |
Truck loaded price (RMB/mt) |
Change (RMB/mt) |
Price ($/mt) |
Change ($/mt) |
| Newman iron ore lump | 63/63.5 | 889 | 2 | 123.3 | 0.3 |
| Yandi fines | 58 / 59 | 740 | 3 | 102.6 | 0.4 |
| PB Fines | 62 | 769 | 3 | 106.7 | 0.4 |
| PB iron ore lump | 62/63 | 905 | -1 | 125.5 | -0.2 |
| Brazil fines | 63 | 781 | 1 | 108.3 | 0.1 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
| Place of origin | Market price （RMB/mt, Incl. VAT) | Change (RMB/mt) |
Price（$/mt) | Change ($/mt) |
| Tangshan | 845 | 5 | 117 | 1 |
| Beipiao | 802 | 5 | 111 | 1 |
Price includes VAT.
$1 = RMB 7.2098