Iron ore prices in China have indicated slight increases in the past week amid rises in futures prices early this week, slower shipments from major miners and a small increase in crude steel production. But the overall changes in the iron ore market have been very small, with only such small changes expected in the near future as well.
On November 20, the price for ex-Australia iron ore fines with 62 percent Fe content stands at $104.15/mt CFR, down by $0.5/mt from the previous day, while up by $1.05/mt compared to the level seen last week. Ex-Brazil fines with 65 percent Fe content are priced at $116.9/mt CFR, declining by $0.35/mt from November 19, but up by $0.9/mt week on week.
Five deals totaling 155,000 mt of iron ore have been signed at the Corex platform on November 20. On November 20, the Iron Ore Portside Index (61% Fe Qingdao) and Iron Ore Portside Index (61% Fe Caofeidian) stand at RMB 793/wmt and RMB 798/wmt, with US$/dmt equivalents standing at $103.99 and $104.32.
During the given week, import iron ore prices in the Chinese market have indicated slight rises amid the declining shipments of seaborne iron ore. Inventories of finished steel have declined, exerting a positive impact on steel prices. However, the demand for finished steel has been slack, which will weaken the support for steel prices and slacken the demand for iron ore. 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 decreased by 0.23 percent today to RMB 788.5/mt ($111.1/mt) compared to the previous trading day, November 19, while increasing by 2.1 percent compared to November 13.
As of November 20, rebar futures at Shanghai Futures Exchange are standing at RMB 3,050/mt ($430/mt), increasing by RMB 4/mt ($0.6/mt) or 0.1 percent since November 13, while down 1.01 percent compared to the previous trading day, November 19.
Imported iron ore prices in China (week-on-week basis)
| Product name | Iron Content |
Truck loaded price (RMB/mt) |
Change (RMB/mt) |
Price ($/mt) |
Change ($/mt) |
| Newman iron ore lump | 63/63.5 | 872 | 9 | 123.0 | 1.2 |
| Yandi fines | 58 / 59 | 777 | 11 | 109.6 | 1.5 |
| PB Fines | 62 | 791 | 11 | 111.5 | 1.5 |
| PB iron ore lump | 62/63 | 879 | 8 | 124.0 | 1.1 |
| Brazil fines | 63 | 834 | 16 | 117.6 | 2.2 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
| Place of origin | Market price （RMB/mt, Incl. VAT) | Change (RMB/mt) |
Price（$/mt) | Change ($/mt) |
| Tangshan | 918 | 11 | 129 | 1 |
| Beipiao | 848 | 0 | 120 | 0 |
Price includes VAT.
$1 = RMB 7.0905
