Import iron ore prices in China have indicated decreases today, Thursday, August 22 as futures prices have declined and as prices had rebounded too rapidly yesterday. In general, the trend has been positive this week, but iron ore has failed to rise above the $100/mt CFR mark as demand concerns persist.
Iron ore fines with 62 percent Fe content have indicated a decrease of $1/mt on August 22 to $96.5/mt CFR. This level is $3.7/mt above that seen on August 15. Brazilian iron ore with 65 percent Fe has decreased by $1.2/mt on August 22 to $110.9/mt CFR, while up $3.25/mt week on week, SteelOrbis has learned.
25 deals for a total of 730,000 mt iron ore have been reported at the Corex platform on August 22. In particular, one deal for 190,000 mt of 58 percent fines was done at $83.3/mt CFR for shipment during the September 8-17 period. Another deal for 170,000 mt of 61 percent PB fines was signed at $96.3/mt CFR, for shipment during the September 25-October 4 period.
During the given week, import iron ore prices in the Chinese market have fluctuated within a limited range. They started to rebound from the beginning of this week amid the rising trend of iron ore futures prices. The iron ore supplies arriving at Chinese ports decreased in the given week, bolstering prices to a certain degree. However, steelmakers’ maintenance works still negatively affected the demand for iron ore. It is thought that import iron ore prices may edge up in the coming week amid anticipated rises in steel prices due to the improved sentiments among market players.
Iron ore futures prices at Dalian Commodity Exchange have increased by 0.41 percent today to RMB 730/mt ($102.5/mt) compared to the previous trading day, August 21, while increasing by RMB 26.5/mt ($3.7/mt) compared to August 15.
As of August 22, rebar futures at Shanghai Futures Exchange are standing at RMB 3,174/mt ($437/mt), increasing by RMB 55/mt ($18.9/mt) or 1.8 percent since August 15, while down 0.69 percent compared to the previous trading day, August 21.
Imported iron ore prices in China (week-on-week basis)
Product name |
Iron |
Truck loaded price |
Change |
Price |
Change |
Newman iron ore lump |
63/63.5 |
883 |
-5 |
124.0 |
-0.4 |
Yandi fines |
58 / 59 |
633 |
0 |
88.9 |
0.2 |
PB Fines |
62 |
731 |
6 |
102.6 |
1.1 |
PB iron ore lump |
62/63 |
883 |
-3 |
124.0 |
-0.1 |
Brazil fines |
63 |
744 |
-6 |
104.5 |
-0.6 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
Place of origin |
Market price （RMB/mt, Incl. VAT) |
Change |
Price（$/mt) |
Change |
Tangshan |
890 |
5 |
125 |
1 |
Beipiao |
819 |
-45 |
115 |
-6 |
Price includes VAT.
$1 = RMB 7.1228