During the week ending July 19, prices of import iron ore for China have slightly increased for some products on week-on-week basis, 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 also 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 $68.4/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $86/mt and prices of the same material are at $81/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, due to environmental protection issue, the transaction activity in finished steel market has been slack, exerting a negative impact on steelmakers’ sentiment and decreasing their iron ore bookings. However, the iron ore futures prices at Dalian Commodity Exchange (DCE) have edged up, providing certain support to iron ore prices in spot market. Typhoon will likely hit China in the coming weekend, which will drag down the inventory level at ports further. It is expected that iron ore prices will move sideways in the coming week.
Imported iron ore prices
|
Product Name |
Name of Port |
Iron Content % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
|
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
644-654 |
95-96 |
↑5 |
|
Brazil fines |
63,5 |
Brazil |
495-505 |
73-74 |
0 |
|
|
Yandi fines |
58 / 59 |
Australia |
390-400 |
58-59 |
↑6 |
|
|
PB fines |
61,5 |
Australia |
449-459 |
66-68 |
↑2 |
|
|
PB iron ore lump |
62 |
Australia |
635-645 |
94-95 |
↑3 |
|
|
Indian fine ore |
63,5 |
India |
456-466 |
67-69 |
0 |
|
|
Indian fine ore |
63 |
India |
446-456 |
66-67 |
0 |
|
|
Indian fine ore |
62 |
India |
426-436 |
63-64 |
0 |
|
|
Indian fine ore |
61 |
India |
416-426 |
61-62 |
↑5 |
|
|
Indian fine ore |
59 |
India |
308-318 |
45-47 |
0 |
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 |
500 |
74 |
↑15 |
|
damp base (iron content: 66%) |
Beipiao |
470 |
69 |
↑5 |
16 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = 6.78 RMB