Slight rises in import iron ore prices in China

During the week ending July 12, prices of import iron ore for China have increased slightly on week-on-week basis, 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 $68.9/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $84/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, ferrous metal futures prices in China have increased, exerting a positive impact on the raw materials market. Steelmakers have been more willing to conclude purchases of iron ore, while inventories of import iron ore at Chinese ports have decreased, with these factors positively affecting import iron ore prices. However, due to the uncertainty created by the escalation of the trade war between the US and China, sentiment in the Chinese finished steel market lacks optimism. It is thought that import iron ore prices in the Chinese market will edge down in the coming week due to slack demand.

Imported iron ore prices

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

16 percent VAT is excluded in all prices and all prices are ex-warehouse.

 $1 = 6.67 RMB