Iron ore prices in China have increased today, March 27, and also over the past week amid an improvement in sentiments and a rather stable outlook owing to the seasonal improvement of demand in China.
On March 27, prices for ex-Australia iron ore fines with 62 percent Fe content are at $103.75/mt CFR, up $1.05/mt from yesterday, while up $2.6/mt week on week. Also, ex-Brazil fines with 65 percent Fe are priced at $116.55/mt CFR, up $1.1/mt compared to yesterday, while increasing by $2.55/mt over the past week.
At the Corex platform, 17 deals for a total of 298,200 mt of iron ore have been transacted on March 27.
During the given week, import iron ore prices in the Chinese market have moved up amid the increasing molten iron outputs of steelmakers. There have been sufficient supplies coming into the market, which may exert a negative impact on iron ore prices in the near future. The molten iron outputs may continue to increase in the coming week, which will consume the inventories of iron ore at ports. The recently announced steel production cuts by some mills may impact demand only later this year, sources believe. It is expected that import iron ore prices in the Chinese market will fluctuate within a limited range in the coming week.
Iron ore futures prices at Dalian Commodity Exchange have risen by 1.28 percent today to RMB 789/mt ($110/mt) compared to the previous trading day, March 26, while increasing by RMB27/mt ($3.8/mt) compared to March 20.
As of March 27, rebar futures at Shanghai Futures Exchange are standing at RMB 3,208/mt ($447/mt), increasing by RMB 32/mt ($4.5/mt) or 1.0 percent since March 20, while down 0.19 percent compared to the previous trading day, March 26.
Imported iron ore prices in China (week-on-week basis)
| Product name | Iron Content |
Truck loaded price (RMB/mt) |
Change (RMB/mt) |
Price ($/mt) |
Change ($/mt) |
| Newman iron ore lump | 63/63.5 | 902 | +23 | 125.7 | +3.2 |
| Yandi fines | 58/59 | 759 | +27 | 105.8 | +3.7 |
| PB Fines | 62 | 788 | +27 | 109.8 | +3.7 |
| PB iron ore lump | 62/63 | 913 | +24 | 127.2 | +3.3 |
| Brazil fines | 63 | 796 | +27 | 110.9 | +3.7 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
| Place of origin | Market price (RMB/mt, Incl. VAT) | Change (RMB/mt) |
Price（$/mt) | Change ($/mt) |
| Tangshan | 870 | +8 | 121 | +1 |
| Beipiao | 819 | 0 | 114 | 0 |
Price includes VAT.
$1 = RMB 7.1763