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Chinese prices of imported iron ore recovered on August 17, with Mysteel’s 62% portside iron ore fines index nudging up Yuan 6/wmt ($0.87/wmt) on day to Yuan 499/wmt FOT Qingdao and including 16% VAT. At the same time, the 62% seaborne index also rose slightly, gaining a mere $1/dmt on day to $67.2/dmt CFR Qingdao.
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China’s imported iron ore market softened again on August 16, as the decline in finished steel prices gave another hit to the sensitive iron ore market sentiment. Mysteel’s 62% portside iron ore fines index dropped Yuan 6/wmt ($0.87/wmt) on day to Yuan 493/wmt FOT Qingdao and including 16% VAT Thursday, and the 62% seaborne index softened $0.4/dmt on day to $66.2/dmt CFR Qingdao.
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Chinese prices for imported iron ore slipped again on August 15, with industry sources ascribing the weak market sentiment to the ongoing rainy weather in northern China and to the restrictions on blast furnace operations in Tangshan, North China.
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China’s imported iron ore market moderated on August 14, with Mysteel’s 62% portside iron ore fines index declining by Yuan 7/wmt ($1/wmt) on day to Yuan 503/wmt FOT Qingdao and including 16% VAT, while Mysteel’s 62% seaborne iron ore fines index retreated by $1/dmt on day to $67.35/dmt CFR Qingdao.
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Mysteel’s HRB 400 20mm rebar benchmark price surged Yuan 57/tonne ($8.3/t) on day to Yuan 4,468/tonne including the 16% VAT on August 13, a new high since the beginning of 2018 as market participants were in a buoyant mood, expecting for price rises.
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The price of 62% Australian iron ore fines at Chinese ports refreshed their five-month high on Monday to reach Yuan 510/wmt ($74.1/t) FOT Qingdao and including the 16% VAT, up by Yuan 8/wmt day on day. Also on Monday, prices of seaborne iron ore market decreased marginally, with Mysteel’s price index for the 62% Australian iron ore fines down $0.45/dmt on day to $68.35/dmt CFR Qingdao.
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China’s market for imported iron ore market cooled on August 10, as some market participants left the market on the final trading day of the week.
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Chinese steel prices declined marginally on Thursday as trading activity ebbed slightly. Mysteel’s national average HRB 400 20mm dia rebar benchmark slipped by Yuan 4/tonne ($0.6/t) on day to Yuan 4,394/tonne including the 16% VAT, ending four working days of consecutive increases.
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The price of 62% Australian iron ore fines at the Chinese ports reached a five-month high at Yuan 504/wmt ($73.9/wmt) FOT Qingdao and including the 16% VAT on August 9, up Yuan 4/wmt day on day, a bit of delay from the seaborne market surge.
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Prices of imported iron ore in China saw a tiny dip on August 8, with Mysteel’s price index for the 62% Australian iron ore fines down $0.65/dmt on day at $69.3/dmt CFR Qingdao, and Mysteel’s price index for 62% Australian iron ore fines at ports lower by Yuan 2/wmt ($0.3/wmt) on day at Yuan 500/wmt FOT Qingdao and including the 16% VAT.
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China’s prices of imported iron ore for both port inventories and seaborne cargoes grew further August 7, with Mysteel’s price index for the 62% Australian iron ore fines up another $0.4/dmt on day to $69.95/dmt CFR Qingdao, and Mysteel’s price index for 62% Australian iron ore fines at the ports up Yuan 5/wmt ($0.7/wmt) on day to Yuan 502/wmt FOT Qingdao and including the 16% VAT.
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Chinese prices of imported iron ore for both port inventories and seaborne cargoes hit nearly five-month highs on August 6, with Mysteel’s price index for port inventories of 62% Australian iron ore fines climbing by Yuan 14/wmt ($2/wmt) on day to Yuan 497/wmt FOT Qingdao and including the 16% VAT, and Mysteel’s price index for seaborne cargoes of 62% Australian iron ore fines gaining a hefty $2.4/dmt on day to $69.55/dmt CFR Qingdao.
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Prices of imported iron ore in China reversed up on this week’s last business day, with Mysteel’s price index for port inventories of 62% Australian iron ore fines climbing by Yuan 8/wmt ($1.2/wmt) on day to Yuan 483/wmt FOT Qingdao and including the 16% VAT. Mysteel’s price index for seaborne cargoes of 62% Australian iron ore fines also rose, gaining $0.65/dmt on day to $67.15/dmt CFR Qingdao.
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Prices of imported iron ore in China were generally stable on August 2, with Mysteel’s 62% portside iron ore fines index unchanged at Yuan 475/wmt ($69.6/wmt) on day FOT Qingdao and including 16% VAT Thursday. Mysteel’s 62% seaborne iron ore fines index rose but only by $0.2/dmt on day to $66.5/dmt CFR Qingdao.
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Prices of imported iron ore in China declined on the first trading day of August, with Mysteel’s 62% portside iron ore fines index at Yuan 475/wmt ($69.8/wmt) – lower by Yuan 8/wmt on day FOT Qingdao and including 16% VAT. Similarly, Mysteel’s price index for seaborne cargoes of 62% Australian iron ore fines also slid by $1.3/dmt on day at $66.3/dmt CFR Qingdao as of August 1.
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China’s market for imported iron ore picked up slightly on July 31, with Mysteel’s 62% portside iron ore fines index at Yuan 483/wmt ($70.8/wmt) – higher by Yuan 1/wmt up on day FOT Qingdao and including 16% VAT. Similarly, Mysteel’s 62% seaborne iron ore fines index edged up by $0.65/dmt on day to $67.6/dmt CFR Qingdao.
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Prices of imported iron ore in China kept stable on the first trading day of this week, with Mysteel’s price index for port inventories of 62% Australian iron ore fines unchanged at Yuan 482/wmt ($71/wmt) FOT Qingdao and including the 16% VAT. Mysteel’s price index for seaborne cargoes of 62% Australian iron ore fines also remained at $66.95/dmt CFR Qingdao.
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China’s imported iron ore market perked up on July 27, lifted by the buoyant steel-market sentiment. On Friday, Mysteel’s 62% portside iron ore fines index posted a Yuan 9/wmt ($1.3/wmt) increase on day to Yuan 482/wmt FOT Qingdao and including 16% VAT. In parallel, Mysteel’s 62% seaborne iron ore fines index also rose $1.3/dmt on day to $66.95/dmt CFR Qingdao, both hitting a 10-week high.
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The uptick in prices of imported iron ore in China took a pause on July 26, with Mysteel’s 62% Australian iron ore fines price for port inventories dipping by Yuan 1/wmt ($0.15/wmt) on day to Yuan 473/wmt FOT Qingdao and including the 16% VAT. Mysteel’s 62% Australian iron ore fines price for seaborne cargoes also edged down by a similarly small $0.35/dmt on day to $65.65/dmt CFR Qingdao.
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Prices of imported iron ore in China gained on July 25, with Mysteel’s 62% Australian iron ore fines price for port inventories climbing by Yuan 4/wmt ($0.6/wmt) on day to Yuan 474/wmt FOT Qingdao and including the 16% VAT. Mysteel’s 62% Australian iron ore fines price for seaborne cargoes also edged up by $0.5/dmt on day to $66/dmt CFR Qingdao.
