During the week ending August 20, prices of imported iron ore in China have indicated a slight rising trend, while transaction activity for imported iron ore has remained at decent levels. At the same time, traders' offers of domestic production iron ore in Tangshan have moved on a slight increasing trend, though offers have remained stable in Liaoning Province, while overall demand for domestic production iron ore has been sluggish.
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 $70.4/mt and prices of the same material are at $57.9/mt in Beipiao, Liaoning, both excluding VAT. Prices of domestic production and imported iron ore in China are presented in the tables below.
Iron ore traders have slightly increased their iron ore offer prices as the explosions at Tianjin port on August negatively impacted deliveries, also resulting in a minor rise in the price of domestic production iron ore in Tangshan. Since China has taken measures to restrict outputs of finished steel in northern China amid environmental measures with the approach of commemorations for the 70th anniversary of victory in the war against Japan, the rebound of iron ore prices will unlikely last for long. It is expected that iron ore prices in the Chinese market will move on a stable trend in the coming week.
Domestic iron ore prices in local Chinese market
Product |
Spec. |
Place of Origin |
Market price excluding tax (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
Domestic iron ore concentrate |
damp base (iron content: 66%) |
Tangshan |
450 |
70 |
↑10 |
damp base (iron content: 66%) |
Beipiao |
370 |
58 |
0 |
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 | 550-570 | 86-89 | ↑10 |
| Brazil fines | 63,5 | Brazil | 430-450 | 67-70 | ↑10 | |
| Yandi fines | 58 / 59 | Australia | 390-410 | 61-64 | ↑10 | |
| PB Fines | 62 | Australia | 460-480 | 72-75 | ↑10 | |
| PB iron ore lump | 61.5 | Australia | 420-430 | 66-67 | ↑10 | |
| Indian fine ore | 63.5 | India | 420-440 | 66-69 | ↑10 | |
| Indian fine ore | 63 | India | 420-440 | 66-69 | ↑10 | |
| Indian fine ore | 62 | India | 400-420 | 63-66 | ↑10 | |
| Indian fine ore | 61 | India | 390-410 | 61-64 | ↑10 | |
| Indian fine ore | 59 | India | 370-390 | 58-61 | ↑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 6.40