During the week ending September 10, prices of imported iron ore in China have indicated a rebounding trend, while transaction activity for imported iron ore has been better than in the previous week, at decent levels. At the same time, traders' offers of domestic production iron ore in Tangshan and Liaoning Province have moved on a slight downtrend, while overall demand for domestic production iron ore has been sluggish.
At present, Indian fine ores of 63.5 percent grade are offered at $69.7/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $69/mt and prices of the same material are at $56/mt in Beipiao, Liaoning, both excluding VAT. Prices of domestic production and imported iron ore in China are presented in the tables below.
During the given week, miners have intentionally decreased iron ore shipments, resulting in short supply of some iron ore resources at ports, with traders and miners getting the chance to increase their iron ore prices. Meanwhile, iron ore futures have seen a rebound, also exerting a positive impact on iron ore spot market.
Currently, since China is entering into the traditional peak season of September, miners have confidence in future market, thus try to push up iron ore prices, which will positively affect finished steel prices. However, since market participants have been lack of confidence towards Chinese finished steel market, iron ore prices in China will likely to move on a fluctuating trend in the coming week, with possible rises and declines in a certain range.
Domestic iron ore prices in local Chinese market
Product |
Spec. |
Place of Origin |
Market price excluding tax (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
Domestic iron ore concentrate |
damp base (iron content: 66%) |
Tangshan |
440 |
69 |
↓10 |
damp base (iron content: 66%) |
Beipiao |
360 |
57 |
↓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 | 570-590 | 89-93 | ↑30 |
| Brazil fines | 63,5 | Brazil | 450-470 | 71-74 | ↑30 | |
| Yandi fines | 58 / 59 | Australia | 410-420 | 64-66 | ↑25 | |
| PB Fines | 62 | Australia | 470-490 | 74-77 | ↑20 | |
| PB iron ore lump | 61.5 | Australia | 440-450 | 69-71 | ↑25 | |
| Indian fine ore | 63.5 | India | 440-450 | 69-71 | ↑25 | |
| Indian fine ore | 63 | India | 430-440 | 66-69 | ↑25 | |
| Indian fine ore | 62 | India | 410-430 | 64-66 | ↑30 | |
| Indian fine ore | 61 | India | 400-410 | 63-64 | ↑25 | |
| Indian fine ore | 59 | India | 370-390 | 58-61 | ↑20 |
The prices are deal prices in local market.
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.37