During the week ending July 16, prices of imported iron ore in China have indicated a slight rebound, while overall transaction activity for imported iron ore has been better than in the previous week though remaining on the slack side. At the same time, traders' offers of domestic production iron ore in Tangshan have moved on a stable trend, though prices have followed a slight downtrend in Liaoning Province, while overall demand for domestic production iron ore has been very sluggish.
At present, Indian fine ores of 63.5 percent grade are offered at $62.9/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $71/mt and prices of the same material are at $58.1/mt in Beipiao, Liaoning, both excluding VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, imported iron ore prices have seen a slight rebound after previous continuous decreases, while domestic steelmakers have slightly increased their purchases of iron ore. In the traditional summer offseason, finished steel prices in China have continued to move down, forcing some steelmakers to cut their outputs, resulting in declines in iron ore consumption. Meanwhile, supply is at relatively good levels in the iron ore market, exerting a negative impact on iron ore prices. It is thought that iron ore prices in the Chinese market will just indicate minor fluctuations in the week ahead.
Domestic iron ore prices in local Chinese market
Product |
Spec. |
Place of Origin |
Market price excluding tax (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
Domestic iron ore concentrate |
damp base (iron content: 66%) |
Tangshan |
430 |
69 |
0 |
damp base (iron content: 66%) |
Beipiao |
360 |
58 |
↓10 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
Imported iron ore prices in local Chinese market
| Product Name | Name of Port | Iron Content % | Place of origin | Truck loaded price (RMB/mt) | Price($/mt) | Weekly Change (RMB/mt) |
| PB iron ore lump | Qingdao | 63/63.5 | Australia | 520-540 | 84-87 | 0 |
| Brazil fines | 63,5 | Brazil | 380-400 | 61-64 | ↑10 | |
| Yandi fines | 58 / 59 | Australia | 360-380 | 58-61 | ↑10 | |
| PB Fines | 62 | Australia | 430-450 | 69-72 | 0 | |
| PB iron ore lump | 61.5 | Australia | 370-380 | 60-61 | ↑10 | |
| Indian fine ore | 63.5 | India | 390-400 | 63-64 | ↑10 | |
| Indian fine ore | 63 | India | 380-400 | 61-64 | ↑10 | |
| Indian fine ore | 62 | India | 360-380 | 58-61 | ↑10 | |
| Indian fine ore | 61 | India | 350-370 | 56-60 | ↑10 | |
| Indian fine ore | 59 | India | 330-350 | 53-56 | ↑10 |
The prices are deal prices in local market.
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.21