During the week ending August 9, prices of import iron ore for China have increased, while transaction activity for import iron ore in the past week has been at low-to-medium levels. At the same time, traders’ offers of domestic production iron ore have edged up in Liaoning Province and Tangshan, with overall transaction activity for domestic production ore at low levels.
At present, Indian fine ores of 63.5 percent grade are offered at $70.4/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $88/mt and prices of the same material are at $83/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, import iron ore prices have edged up due to significant rises seen in iron ore futures prices at Dalian Commodity Exchange (DCE). Meanwhile, miners’ delivery dropped down in July compared to June, also providing certain support to iron ore prices. Moreover, traders’ cost has moved up due to changes in exchange rate between USD and Chinese currency, also bolstering iron ore prices. However, the demand from steelmakers for iron ore will unlikely see improvement in recent period. It is expected that import iron ore prices in the Chinese market will move sideways in the coming week.
Imported iron ore prices
|
Product Name |
Name of Port |
Iron Content % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
|
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
666-676 |
96-99 |
↑18 |
|
Brazil fines |
63,5 |
Brazil |
527-537 |
77-79 |
↑20 |
|
|
Yandi fines |
58 / 59 |
Australia |
427-437 |
63-64 |
↑16 |
|
|
PB fines |
61,5 |
Australia |
487-497 |
71-73 |
↑25 |
|
|
PB iron ore lump |
62 |
Australia |
650-660 |
95-97 |
↑11 |
|
|
Indian fine ore |
63,5 |
India |
475-485 |
70-71 |
↑20 |
|
|
Indian fine ore |
63 |
India |
465-475 |
68-70 |
↑20 |
|
|
Indian fine ore |
62 |
India |
445-455 |
65-67 |
↑20 |
|
|
Indian fine ore |
61 |
India |
435-445 |
64-65 |
↑20 |
|
|
Indian fine ore |
59 |
India |
320-330 |
47-48 |
↑15 |
The prices are deal prices in local market.
16 percent VAT is included in all prices and all prices are ex-warehouse.
Domestic iron ore prices in local Chinese market
|
Product |
Spec. |
Place of Origin |
Market price excluding tax (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
Domestic iron ore concentrate |
damp base (iron content: 66%) |
Tangshan |
520 |
76 |
↑10 |
|
damp base (iron content: 66%) |
Beipiao |
485 |
71 |
↑10 |
16 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = 6.83 RMB