Chinese origin iron ore prices rebound
2024-04-16 08:18:13 [Print]
BEIJING (Asian Metal) 16 Apr 24 - Chinese origin iron ore suppliers lifted their prices this week mainly supported by the price increase of imported iron ore at ports and in international market. The prices of iron ore fines 64%min stand at RMB1,007-1,017/dt (USD139-140/dt) Inc-VAT EXW D/A 180 days in Laiwu at present, and those of iron ore fines 66%min hover at RMB830-840/dt (USD115-116/dt) Inc-VAT EXW D/P in Benxi, up by RMB64/dt (USD9/dt) and RMB40/dt (USD6/dt) respectively from last week. Considering prices of imported iron ore at ports and in international market began to decrease early this week, insiders predict that Chinese origin iron ore prices would drop slightly in the coming week.
A Shandong-based iron ore producer quotes RMB1,017/dt (USD140/dt) Inc-VAT EXW D/A 180 days in Laiwu with no concessions for iron ore fines 64%min for the time being, while he insisted on RMB953/dt (USD132/dt) last Friday. "Seeing prices of Australian iron ore fines 62%min in Qingdao port rebounded by RMB82/t (USD11/t) last week to about RMB853/t (USD118/t), we raised the price by RMB64/dt (USD9/dt) this week," revealed the producer. According to him, he sold about 3,500t on Monday at RMB1,017/dt (USD140/dt) and 3,500t last Friday at RMB953/dt (USD132/dt). The source expects Chinese origin iron ore prices to slide by RMB20/dt (USD3/dt) in the coming week as prices of Australian iron ore fines 62%min in Qingdao port started to go down early this week.
Based on the annual production capacity of around 2.5 million tonnes, the company produced about 110,000t last month and expects the production to rise to around 120,000t in April. Having zero stock in hand now, down by around 5,000t MoM, they produced about 1.2 million tonnes in 2023 and around 290,000t in Q1 of this year.
An iron ore producer in Liaoning with the annual production capacity of around 400,000t told the price of iron ore fines 66%min hovers at RMB840/dt (USD116/dt) Inc-VAT EXW D/P in Benxi without any concessions at present, while the price was RMB800/dt (USD111/dt) last Friday. "We raised the price by RMB40/dt (USD6/dt) this week mainly supported by the price increase of imported iron ore at ports and in international market last week," said the producer, who told they sold about 950t on Monday at RMB840/dt (USD116/dt) and 950t last Friday at RMB800/dt (USD111/dt). Since prices of imported iron ore at ports and in international market moved down early this week, the source predicts that Chinese origin iron ore prices would go down by RMB20/dt (USD3/dt) in the coming week.
With an output of about 29,000t last month, which may remain stable in April, the company produced about 290,000t in 2023 and around 77,000t in Q1 of 2024. They have zero stock in hand at present, in line with last month.
A Shandong-based iron ore producer quotes RMB1,017/dt (USD140/dt) Inc-VAT EXW D/A 180 days in Laiwu with no concessions for iron ore fines 64%min for the time being, while he insisted on RMB953/dt (USD132/dt) last Friday. "Seeing prices of Australian iron ore fines 62%min in Qingdao port rebounded by RMB82/t (USD11/t) last week to about RMB853/t (USD118/t), we raised the price by RMB64/dt (USD9/dt) this week," revealed the producer. According to him, he sold about 3,500t on Monday at RMB1,017/dt (USD140/dt) and 3,500t last Friday at RMB953/dt (USD132/dt). The source expects Chinese origin iron ore prices to slide by RMB20/dt (USD3/dt) in the coming week as prices of Australian iron ore fines 62%min in Qingdao port started to go down early this week.
Based on the annual production capacity of around 2.5 million tonnes, the company produced about 110,000t last month and expects the production to rise to around 120,000t in April. Having zero stock in hand now, down by around 5,000t MoM, they produced about 1.2 million tonnes in 2023 and around 290,000t in Q1 of this year.
An iron ore producer in Liaoning with the annual production capacity of around 400,000t told the price of iron ore fines 66%min hovers at RMB840/dt (USD116/dt) Inc-VAT EXW D/P in Benxi without any concessions at present, while the price was RMB800/dt (USD111/dt) last Friday. "We raised the price by RMB40/dt (USD6/dt) this week mainly supported by the price increase of imported iron ore at ports and in international market last week," said the producer, who told they sold about 950t on Monday at RMB840/dt (USD116/dt) and 950t last Friday at RMB800/dt (USD111/dt). Since prices of imported iron ore at ports and in international market moved down early this week, the source predicts that Chinese origin iron ore prices would go down by RMB20/dt (USD3/dt) in the coming week.
With an output of about 29,000t last month, which may remain stable in April, the company produced about 290,000t in 2023 and around 77,000t in Q1 of 2024. They have zero stock in hand at present, in line with last month.
