During the week ending September 13, prices of import iron ore for China have mostly increased slightly, while transaction activity for import iron ore in the past week has been at medium levels. At the same time, traders’ offers of domestic production iron ore have remained stable in Liaoning Province and Tangshan, with overall transaction activity for domestic production ore at low-to-medium levels.
At present, Indian fine ores of 63.5 percent grade are offered at $68.8/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $98/mt and prices of the same material are at $94/mt in Beipiao, Liaoning, both including VAT. Prices of domestic production and imported iron ore in China are presented in the following table.
During the given week, import iron ore prices have moved up following the declines seen in the previous week, while steelmakers have been more willing to conclude purchases. Iron ore inventory levels have decreased slightly over the given week, providing support for import iron ore prices. Traders are optimistic as regards the future prospects for the iron ore market. It is expected that import iron ore prices in China will likely move sideways in the coming week.
Imported iron ore prices
Product Name |
Name of Port |
Iron Content % |
Place of origin |
Truck loaded price (RMB/mt) |
Price($/mt) |
Weekly Change (RMB/mt) |
Newman iron ore lump |
Qingdao |
63/63.5 |
Australia |
704-714 |
103-104 |
↑4 |
Brazil fines |
63,5 |
Brazil |
509-519 |
74-76 |
↑4 |
|
Yandi fines |
58 / 59 |
Australia |
431-441 |
63-64 |
↑6 |
|
PB fines |
61,5 |
Australia |
483-493 |
71-72 |
↑3 |
|
PB iron ore lump |
62 |
Australia |
693-703 |
101-130 |
↑3 |
|
Indian fine ore |
63,5 |
India |
466-476 |
68-69 |
0 |
|
Indian fine ore |
63 |
India |
456-466 |
67-68 |
0 |
|
Indian fine ore |
62 |
India |
436-446 |
64-65 |
0 |
|
Indian fine ore |
61 |
India |
426-436 |
62-64 |
0 |
|
Indian fine ore |
59 |
India |
328-338 |
48-49 |
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 |
580 |
85 |
0 |
damp base (iron content: 66%) |
Beipiao |
555 |
81 |
0 |
16 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = 6.85 RMB