During the week ending August 15, traders’ offers of domestic production iron ore have indicated a downward trend in Tangshan and Liaoning Province, with overall transaction activity for domestic production ore at low levels. Prices of import iron ore in ports of China have also moved down.
At present, quotations of 66 percent iron ore concentrate in Tangshan stand at $110/mt and prices of the same material are at $113/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in Chinese ports are presented in the following table.
Nationwide iron ore concentrate prices
Product name |
Specification |
Place of origin |
Market price (RMB/mt) |
Change |
Price($/mt) |
Change |
Iron ore concentrate |
damp base (iron content: 66 percent) |
Tangshan |
770 |
-67 |
110 |
-10 |
Iron ore concentrate |
damp base (iron content: 66 percent) |
Beipiao |
791 |
-11 |
113 |
-2 |
Imported iron ore prices in ports
Product name |
Port |
Iron |
Place of origin |
Truck loaded price |
Change |
Price |
Change |
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
820 |
-55 |
116.6 |
-7.8 |
Brazil fines |
63 |
Brazil |
746 |
-63 |
106.1 |
-9.0 |
|
Yandi fines |
58 / 59 |
Australia |
665 |
-55 |
94.6 |
-7.8 |
|
PB Fines |
62 |
Australia |
720 |
-45 |
102.4 |
-6.4 |
|
PB iron ore lump |
62/63 |
Australia |
815 |
-55 |
115.9 |
-7.8 |
|
Indian fine ore |
63.5 |
India |
698 |
-57 |
99.3 |
-8.1 |
|
Indian fine ore |
63 |
India |
689 |
-57 |
98.0 |
-8.1 |
|
Indian fine ore |
62 |
India |
678 |
-57 |
96.4 |
-8.1 |
|
Indian fine ore |
61 |
India |
663 |
-57 |
94.3 |
-8.1 |
|
Indian fine ore |
59 |
India |
600 |
-53 |
85.3 |
-7.5 |
13 percent VAT is excluded in all prices and all prices are ex-warehouse.
During the given week, some traders lowered their prices of iron ore for sale, exerting a negative impact on the iron ore market. Meanwhile, production cuts on the steelmakers’ side have reduced the demand for iron ore. At the same time, it is still the offseason for finished steel, forcing steelmakers to seek lower-priced iron ore supplies. It is expected that iron ore prices in the Chinese domestic market will soften in the coming week.
$1 = RMB 7.03