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Mar.28.2024 1USD=7.0948RMB
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SteelHome: Seaborne Iron Ore Price Kept Dropping amid Slumped Futures Price on October 14, 2020

https://en.steelhome.com [SteelHome] 2020-10-15 09:04:02

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The average price of China domestic-produced iron ore concentrates at 14 main markets in China was 939 yuan/t on October 14, up 1 yuan/t from the previous trading day. It is expected that prices of China domestic-produced iron ore concentrates may keep stable in the near term.

Imported Iron Ore: the seaborne price kept dropping on Wednesday.

Overseas iron ore price from SteelHome: 61%-Fe PB fines was 118-120 dollars/t (CIF); 65%-Fe IOCJ was 131-133 dollars/t (CIF); 58%-Fe Yandi fines was 112-113 dollars/t (CIF), down 1-2 dollars/t from the prior trading day.

At ports, the spot price for imported iron ore dropped by 10 yuan/t on Wednesday.

Table 1: Imported Iron Ore Transaction with Chinese Inland Buyers

1 USD=6.7296 RMB (Yuan) on October 13

Date

Products

Price (CNY/mt)

Price (US$/mt)

Change

Up/down (US$/mt)

Port

2020/10/14

61.8%Jimblebar fines

854

126.6

-23

-3.4

Rizhao

2020/10/14

Yandi fines

848

125.7

/

/

Rizhao

2020/10/14

PB fines

880

130.4

-15

-2.2

Qingdao

2020/10/14

PB fines

885

131.2

-10

-1.5

Qingdao

2020/10/14

Yandi fines

848

125.7

/

/

Qingdao

More Info: Imported Iron Ore Transaction with Chinese Inland Buyers

Meanwhile, the futures prices slumped on Wednesday. Currently, traders are inactive in low-priced sales.

SteelHome considers that iron ore prices may observe rangebound movements in the short run.

Table 2: Iron Ore Prices at China Domestic Markets

1 USD=6.7473 RMB (Yuan) on October 14

Market

Specification

Unit

2020/10/13

2020/10/14

VAR

China Domestic-produced Iron Ore

Liaoning Iron Concentrates

66%

yuan/t (dry basis)

950

950

-

Hebei Iron Concentrates

66%

yuan/t (dry basis)

1020

1030

10

Anhui Iron Concentrates

65%

yuan/t (dry basis)

1060

1060

-

Hubei Iron Concentrates

63%

yuan/t (dry basis)

1020

1020

-

Guangdong Iron Concentrates

64%

yuan/t (dry basis)

890

890

-

Spot Price

(Shandong Port)

Australian Newman fines

62.5%

yuan/t (wet basis)

925

915

-10

Australian PB fines

61.5%

yuan/t (wet basis)

905

895

-10

Australian Super special fines

56.5%

yuan/t (wet basis)

820

810

-10

BRBF

62.5%

yuan/t (wet basis)

940

930

-10

IOCJ

65%

yuan/t (wet basis)

1025

1015

-10

Seaborne Price

(Qingdao Port and Tianjin Port)

Australian Newman fines

62.5%

dollar/t (dry basis)

123.5

121.5

-2

Australian PB fines

61.5%

dollar/t (dry basis)

122

120

-2

Australian Yandi fines

58%

dollar/t (dry basis)

114.5

112.5

-2

IOCJ

65%

dollar/t (dry basis)

135

133

-2

BRBF

62.5%

dollar/t (dry basis)

126.5

124.5

-2

Table 3: Offshore Iron Ore Transaction

1 USD=6.7473 RMB (Yuan) on October 14

Date

Product

Volume (10,000 Tons)

Price (US$/dmt)

Note

2020/10/14

62%-Fe Mac fines

8

116.5

COREX bidding price, with laycan during November 6-15.

2020/10/14

Jimblebar fines

9

November 62%PM average index-1.3

COREX bidding price, with laycan during November 6-15.

2020/10/14

BRBF

17

December 62%LA average index+6.05

COREX bidding price, with laycan during November 20-29.

2020/10/14

PB fines

17

November 62%Platts average index+3.9

COREX bidding price, with laycan during November 1-10.

2020/10/14

65%-Fe IOCJ

10

132.7

COREX bidding price, with B/L on October 3.

2020/10/14

Total

61

 

 


(To contact the reporter on this story: cody.wang@steelhome.cn or 86-555-2238837 18725550282)
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