Chinese origin iron ore prices drop
2023-03-28 08:20:46 [Print]
BEIJING (Asian Metal) 28 Mar 23 - Chinese origin iron ore suppliers reduced their prices this week dragged by the price decrease of imported iron ore at ports and the downward price trend in international market. The present mainstream prices of iron ore fines 64%min hover at RMB1,064-1,074/dt (USD155-156/dt) Inc-VAT EXW D/A 180 days in Laiwu, and those of iron ore fines 66%min stand at RMB1,027-1,037/dt (USD149-151/dt) Ex-VAT EXW D/A 180 days in Handan, down by RMB79/dt (USD11/dt) and RMB70/dt (USD10/dt) respectively from last week. Insiders expect Chinese origin iron ore prices to rise by RMB20/dt (USD3/dt) in the coming week because prices of imported iron ore at ports and in international market started to rebound early this week.
A Shandong-based iron ore producer reported to Asian Metal that his price of iron ore fines 64%min stands at RMB1,074/dt (USD156/dt) Inc-VAT EXW D/A 180 days in Laiwu with no discounts at present, down by RMB79/dt (USD11/dt) compared with that of last week. "Considering prices of Australian iron ore fines 62%min in Qingdao port dropped by RMB45/t (USD7/t) last week to RMB869/t (USD126/t), we cut the price by RMB79/dt (USD12/dt) this week," explained the source, adding that he just sold about 4,000t on Monday at RMB1,074/dt (USD156/dt) and last sold around 4,000t last Friday at RMB1,153/dt (USD168/dt). Seeing prices of Australian iron ore fines 62%min in Qingdao port rebounded by RMB21/dt (USD3/dt) on Monday, the source predicts that Chinese origin iron ore prices would go up by RMB20/dt (USD3/dt) in the coming week.
With an annual production capacity of about 2.5 million tonnes, the company produced about 110,000t in February and expects the output to rise to around 120,000t this month. Having no spot materials in hand now, unchanged from last month, they produced around 1.3 million tonnes in 2022 and around 220,000t in the first two months of this year.
Another iron ore producer in Hebei quotes RMB1,037/dt (USD151/dt) Ex-VAT EXW D/A 180 days in Handan for iron ore fines 66%min without any concessions for the time being, down by RMB70/dt (USD10/dt) from last week. "We also decreased the price by RMB70/dt (USD10/dt) this week because of the price decrease of imported iron ore at ports and the downward price trend in international market last week," said the source. According to him, he just sold about 4,000t on Monday at RMB1,037/dt (USD151/dt) and last sold around 4,000t last Friday at RMB1,107/dt (USD161/dt). Since prices of imported iron ore at ports and in international market rebounded early this week, the producer predicts that Chinese origin iron ore prices would move up by RMB20/dt (USD3/dt) in the coming week.
Based on the annual production capacity of around two million tonnes, the company produced about 70,000t last month and expects the production to increase to around 110,000t in March. Having zero stock in hand now, the same as last month, they produced about 850,000t in 2022 and around 70,000t in the first two months of this year.
A Shandong-based iron ore producer reported to Asian Metal that his price of iron ore fines 64%min stands at RMB1,074/dt (USD156/dt) Inc-VAT EXW D/A 180 days in Laiwu with no discounts at present, down by RMB79/dt (USD11/dt) compared with that of last week. "Considering prices of Australian iron ore fines 62%min in Qingdao port dropped by RMB45/t (USD7/t) last week to RMB869/t (USD126/t), we cut the price by RMB79/dt (USD12/dt) this week," explained the source, adding that he just sold about 4,000t on Monday at RMB1,074/dt (USD156/dt) and last sold around 4,000t last Friday at RMB1,153/dt (USD168/dt). Seeing prices of Australian iron ore fines 62%min in Qingdao port rebounded by RMB21/dt (USD3/dt) on Monday, the source predicts that Chinese origin iron ore prices would go up by RMB20/dt (USD3/dt) in the coming week.
With an annual production capacity of about 2.5 million tonnes, the company produced about 110,000t in February and expects the output to rise to around 120,000t this month. Having no spot materials in hand now, unchanged from last month, they produced around 1.3 million tonnes in 2022 and around 220,000t in the first two months of this year.
Another iron ore producer in Hebei quotes RMB1,037/dt (USD151/dt) Ex-VAT EXW D/A 180 days in Handan for iron ore fines 66%min without any concessions for the time being, down by RMB70/dt (USD10/dt) from last week. "We also decreased the price by RMB70/dt (USD10/dt) this week because of the price decrease of imported iron ore at ports and the downward price trend in international market last week," said the source. According to him, he just sold about 4,000t on Monday at RMB1,037/dt (USD151/dt) and last sold around 4,000t last Friday at RMB1,107/dt (USD161/dt). Since prices of imported iron ore at ports and in international market rebounded early this week, the producer predicts that Chinese origin iron ore prices would move up by RMB20/dt (USD3/dt) in the coming week.
Based on the annual production capacity of around two million tonnes, the company produced about 70,000t last month and expects the production to increase to around 110,000t in March. Having zero stock in hand now, the same as last month, they produced about 850,000t in 2022 and around 70,000t in the first two months of this year.
