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Weekly Report Of China Iron Ore Market For August 3-10, 2018
Posted Date: 13/08/2018 
Expired Date: 13/08/2019
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Subject Weekly Report Of China Iron Ore Market For August 3-10, 2018
Product Iron / steel
Product Description By August 10, 2018, SteelHome (China) Raw Materials Price Index (SHCNMI) was 133.35 points, up 2.88 percent on week; iron ore price index (SHCNOI) was 101.63 points (624 yuan per ton), up 2.43% on a weekly basis; domestic iron ore index was 94.31 points (663 yuan per ton), increasing 1.32% from the week prior; imported iron ore index was 68.15 dollars per ton, up 2.1 dollars on week.

According to General Administration of Customs, China imported 89.959 million tons of iron ore in July, with a yearly rise of 3.709 million tons or up 4.3 percent, and a monthly rise of 6.717 million tons over June inbound shipments; the daily import rose by 4.6 percent over June daily average; import price was 65.4 dollars per ton (CFR, China), flat with June price.
The cumulative imports in the first seven months came to 620.652 million tons, a decrement of 4.564 million tons or 0.7 percent on year. Average import price in the given period was 69.6 dollars per ton (CFR, China), down 3.4 percent on year.

Imported iron ore moved up in the week ending August 10. By Friday, PB fines closed at 67.5-68 dollars per ton (CFR, China), a rise of 2 dollars over the previous weekend. The reduction in Rio Tinto’s bidding resulted into decreased transactions of seaborne iron ore. The port ore price hike improved obviously. And it was said that some iron ore purchasers even sold their US dollars-priced ore contract and headed for spot ore at Chinese ports, citing that RMB devalued in the week and US dollars-priced ore was much expensive than spot ore. The price spread was around 15-20 RMB per ton.

In the coming week, the momentum for hike will be lagged as seaborne bidding will increase. SteelHome predicts that iron ore price in the week ahead will slightly fluctuate.

• North China: Tangshan’s steelmakers raised iron concentrates (66%) by 5-15 yuan to 690-720 yuan per ton. Miners were unwilling to sell at low price. In Handan and Xingtai region, mills continued to pay 730-760 yuan per ton for 66% concentrates miners (big-scaled).

SteelHome conducted a survey and knew that mills in Tangshan had 25-28 days of imported iron ore, with the number rising by 3-5 days. Mills in the region cut production and some mills increased the stocks as they were bullish on the market. The ore charge in the BF did not change much. Average sintered ore charge in BF was still 70 percent in the blend.

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Contact Person: Tina Tong     Contact Now
Job Title: editor and trader
Address: Floor 23rd, Zhongcheng Building, No.818 Dongfang Road, Pudong New District, Shanghai, P.R.C
Telephone: 86-021-50585733  (Ext 5368)
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