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Nov.24.2020 1USD=6.5809RMB
  SteelHome >>Raw Material>>Market Info>>Market Analysis
 
SteelHome: Seaborne Iron Ore Price Kept Dropping on October 26, 2020

http://en.steelhome.cn [SteelHome] 2020-10-27 08:45:29

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The average price of China domestic-produced iron ore concentrates at 14 main markets in China was 931 yuan/t on October 26, down 5 yuan/t from the previous trading day. It is expected that prices of China domestic-produced iron ore concentrates may edge down in the near term.

Imported Iron Ore: the seaborne price dipped on Monday.

Overseas iron ore price from SteelHome: 61%-Fe PB fines was 115-116 dollars/t (CIF); 65%-Fe IOCJ was 129-130 dollars/t (CIF); 58%-Fe Yandi fines was 107-108 dollars/t (CIF), down 0.5-1 dollar/t from the prior trading day.

At ports, the spot price for imported iron ore dropped by 5-15 yuan/t on Monday.

Table 1: Imported Iron Ore Transaction with Chinese Inland Buyers

1 USD=6.6725 RMB (Yuan) on October 26

Date

Products

Price (CNY/mt)

Price (US$/mt)

Change

Up/down (US$/mt)

Port

2020/10/26

61.2%Jimblebar fines

825

123.6

/

/

Rizhao

2020/10/26

Yandi fines

810

121.4

/

/

Rizhao

2020/10/26

Ukrainian Concentrate Fines

890

133.4

/

/

Rizhao

2020/10/26

Indian Pellet

1018

152.6

-2

-0.3

Rizhao

2020/10/26

SP10 lump

830

124.4

/

/

Lanshan

More Info: Imported Iron Ore Transaction with Chinese Inland Buyers

With the bearish outlook, most traders were active in iron ore sales. For mills, most of them purchased iron ore only for rigid demands.

SteelHome considers that prices of iron ore may edge down in the short run.

Table 2: Iron Ore Prices at China Domestic Markets

1 USD=6.6725 RMB (Yuan) on October 26

Market

Specification

Unit

2020/10/23

2020/10/26

VAR

China Domestic-produced Iron Ore

Liaoning Iron Concentrates

66%

yuan/t (dry basis)

950

950

-

Hebei Iron Concentrates

66%

yuan/t (dry basis)

1030

1010

-20

Anhui Iron Concentrates

65%

yuan/t (dry basis)

1029

1009

-20

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)

895

885

-10

Australian PB fines

61.5%

yuan/t (wet basis)

875

865

-10

Australian Super special fines

56.5%

yuan/t (wet basis)

790

780

-10

BRBF

62.5%

yuan/t (wet basis)

910

900

-10

IOCJ

65%

yuan/t (wet basis)

995

985

-10

Seaborne Price

(Qingdao Port and Tianjin Port)

Australian Newman fines

62.5%

dollar/t (dry basis)

117.5

117

-0.5

Australian PB fines

61.5%

dollar/t (dry basis)

116

115.5

-0.5

Australian Yandi fines

58%

dollar/t (dry basis)

108.5

108

-0.5

IOCJ

65%

dollar/t (dry basis)

130.5

129.5

-1

BRBF

62.5%

dollar/t (dry basis)

121

120.5

-0.5

Table 3: Offshore Iron Ore Transaction

1 USD=6.6725 RMB (Yuan) on October 26

Date

Product

Volume (10,000 Tons)

Price (US$/dmt)

Note

2020/10/26

PB fines

17

111.95

COREX bidding price, with laycan during November 25-December 4.

2020/10/26

Total

17


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