During the week ending August 16, prices of import iron ore for China have mostly decreased slightly, though seeing slight rises in lump ore, while transaction activity for import iron ore in the past week has been at low levels. At the same time, traders’ offers of domestic production iron ore have edged up in Tangshan, though moving stable in Liaoning Province, with overall transaction activity for domestic production ore at low levels.
At present, Indian fine ores of 63.5 percent grade are offered at $68.4/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 $82/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, import iron ore prices have moved up first but edged down in the following days. Meanwhile, iron ore futures prices at Dalian Commodity Exchange (DCE) have moved down significantly in the given week, exerting a negative impact on iron ore market. The capacity utilization rates of blast furnaces have declined further in most regions of China due to environmental protection requirements, slackening the demand for iron ore. As for the coming week, it will be rainy in some regions due to typhoon, which will drag down the demand for iron ore. It is expected that import iron ore prices in the Chinese market will edge down further in the coming week.
Imported iron ore prices
|
Product Name |
Name of Port |
Iron Content % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
|
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
671-681 |
97-99 |
↑5 |
|
Brazil fines |
63,5 |
Brazil |
514-524 |
74-76 |
↓13 |
|
|
Yandi fines |
58 / 59 |
Australia |
430-440 |
62-64 |
↑3 |
|
|
PB fines |
61,5 |
Australia |
477-487 |
69-71 |
↓10 |
|
|
PB iron ore lump |
62 |
Australia |
655-665 |
95-96 |
↑5 |
|
|
Indian fine ore |
63,5 |
India |
466-476 |
68-69 |
↓9 |
|
|
Indian fine ore |
63 |
India |
456-466 |
66-68 |
↓9 |
|
|
Indian fine ore |
62 |
India |
436-446 |
63-65 |
↓9 |
|
|
Indian fine ore |
61 |
India |
426-436 |
62-63 |
↓9 |
|
|
Indian fine ore |
59 |
India |
325-335 |
47-49 |
↑5 |
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 |
525 |
76 |
↑5 |
|
damp base (iron content: 66%) |
Beipiao |
485 |
70 |
0 |
16 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = 6.90 RMB