Import iron ore prices in China have seen slight increases today, Thursday, December 26, while they have posted slight decline over the week amid still weak fundamentals like insufficient demand and high stocks at ports.
Iron ore fines with 62 percent Fe content have posted an increase of $0.3/mt on December 26 to $100.8/mt CFR. This level is $1.3/mt below that was seen on December 19. Brazilian iron ore with 65 percent Fe has edged up by $0.4/mt on December 26 to $114.65/mt CFR, while down $1.2/mt week on week, SteelOrbis has learned.
10 deals of 331,400 mt iron ore have been done at Corex platform on December 26. In particular, 170,000 mt of 61 percent PB fines have been dealt at $100.4/mt CFR for shipment during January 28-February 6, while 90,000 mt of 60.6 percent Mac fines have been sold at $95/mt CFR for shipment during January 26-February 4.
During the given week, import iron ore prices in the Chinese domestic market have seen decreases as molten iron outputs continued the downtrend. The stock built-up for winter has not been as good as market players expected, exerting a negative impact on iron ore prices. However, some traders thought there may be more purchases for winter in the near future, which bolstered their sentiments to a certain degree. Inventory of iron ore at ports declined slightly, while the volume stood at a relatively high level, negatively affecting its prices. It is thought that iron ore prices may fluctuate within a limited range in the coming week.
Iron ore futures prices at Dalian Commodity Exchange have decreased by 0.06 percent today at RMB 776.5/mt ($108/mt) compared to the previous trading day, December 25, while decreasing by RMB 2/mt ($0.28/mt) compared to December 19.
As of December 26, rebar futures at Shanghai Futures Exchange are standing at RMB 3,305/mt ($456/mt), increasing by RMB 18/mt ($2.5/mt) or 0.55 percent since December 19, while up 0.03 percent compared to the previous trading day, December 25.
Imported iron ore prices in China (week-on-week basis)
Product name |
Iron |
Truck loaded price |
Change |
Price |
Change |
Newman iron ore lump |
63/63.5 |
886 |
7 |
123.2 |
1.0 |
Yandi fines |
58 / 59 |
737 |
-3 |
102.5 |
-0.4 |
PB Fines |
62 |
772 |
-3 |
107.4 |
-0.4 |
PB iron ore lump |
62/63 |
882 |
-6 |
122.7 |
-0.8 |
Brazil fines |
63 |
791 |
-2 |
110.0 |
-0.3 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
Place of origin |
Market price （RMB/mt, Incl. VAT) |
Change |
Price（$/mt) |
Change |
Tangshan |
867 |
12 |
121 |
2 |
Beipiao |
825 |
-6 |
115 |
-1 |
Price includes VAT.
$1 = RMB 7.1897