Import iron ore prices in China have indicated decreases today, Thursday, January 4, while posting increases compared to last week, even though prices had already reached the one-year peak of $140/mt CFR.
Iron ore fines with 62 percent Fe content have decreased by $0.85/mt today to $142.8/mt CFR. This level is $2.75/mt above that seen one week ago. Brazilian iron ore with 65 percent Fe has indicated a decrease of $0.95/mt on January 4 to $152.85/mt CFR, while up $2.45/mt week on week, SteelOrbis has learned.
Two deals for a total of 40,000 mt have been concluded at the Corex platform today, including 30,000 mt of 60.96 percent of Jimblebar blended fines at RMB 1,016/mt ($143.1/mt), for delivery at Tianjin port, and 10,000 mt of 61.87 percent Fe PB fines transacted at RMB 1,030/mt ($145.1/mt), for delivery at Dongjiakou port.
During the given week, import iron ore prices have seen continuous increases amid the prevailing bullish sentiments among market players. Transaction volumes of iron ore at ports have seen significant rises compared to last week. However, several regions in China have implemented steel production restrictions over the past week due to heavy pollution, which has reduced molten iron output. The anticipated stricter production restrictions and more maintenance works will weaken the demand for iron ore in the near future, while steelmakers need to build up stocks ahead of the Chinese New Year holiday, which will provide solid support for prices. It is thought that import iron ore prices may edge up slightly further in the coming week.
Iron ore futures prices at Dalian Commodity Exchange have risen by 0.3 percent to RMB 1,016/mt ($143.1/mt) compared to the previous trading day (January 3), while increasing by RMB 50/mt compared to December 28.
As of Thursday, January 4, rebar futures at the Shanghai Futures Exchange are standing at RMB 4,046/mt ($563/mt), decreasing by RMB 50/mt ($7/mt) or up 1.25 percent since December 28, while decreasing by 0.22 percent compared to the previous trading day (January 3).
Imported iron ore prices in China (week-on-week basis)
|
Product name |
Iron |
Truck loaded price |
Change |
Price |
Change |
|
Newman iron ore lump |
63/63.5 |
1,202 |
21 |
169.3 |
2.9 |
|
Yandi fines |
58 / 59 |
980 |
18 |
138.0 |
2.5 |
|
PB Fines |
62 |
1,062 |
34 |
149.6 |
4.7 |
|
PB iron ore lump |
62/63 |
1,209 |
23 |
170.3 |
3.2 |
|
Brazil fines |
63 |
1,094 |
34 |
154.1 |
4.7 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
|
Place of origin |
Market price （RMB/mt, Incl. VAT) |
Change |
Price（$/mt) |
Change |
|
Tangshan |
1,166 |
16 |
164 |
2 |
|
Beipiao |
1,051 |
0 |
148 |
0 |
Price includes VAT.
$1 = RMB 7.0997