Iron Ore Prices China

Iron Ore Prices China. Chinas prices for imported iron ore softened in general on August 23 with trading activities remaining lukewarm. And in the first half of 2021 Chinas steel production was up 12 compared to 2020 per CNBC. It should be noted that at 228 iron ore prices are still well above long term averages of closer to 68.

Australian Dollar Resilient As Record Iron Ore Prices Eclipse China Tensions In 2021 Iron Ore Resilience Copper Prices

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On August 23 Mysteel PORTDEX 62 Australian Fines in Qingdao dropped Yuan 13wmt 2wmt on day to Yuan 1019wmt FOT the lowest since last December 9. Early indications show that production levels have slowed to start H2. But like many things China-related there are often a few layers to unfold when assessing policy communications.

Iron ore prices hovered between 80 and 120 per ton throughout much of 2019 and 2020. The decline in demand for iron ore has continued since March when China imported 1021 million tons of iron ore that month followed by 9856 million tons in April 8979 million tons in May and 8941 million tons in June. The most-traded September iron ore on Chinas Dalian Commodity Exchange gained as much as 35 to 122750 yuan 18987 a tonne.

Iron ore prices have dropped under US200 a tonne for the first time since May as Australias biggest buyer China threatens to reduce its orders while diplomatic relations between the two. Iron ore prices have lost nearly 30 on demand concerns and China. Copper and iron ore prices have been knocked down sharply in August after steadily running higher since early 2020.

Iron Ore 62 Fe CFR China TSI Swa. 52 week range 16444 - 21180. The decline in lower grade iron ore spot prices led the sell-off last Friday.

Wood Mackenzie has adjusted their iron ore price forecast to 185 per tonne CFR in the third quarter compared with 200 a tonne for the second quarter. The price of iron ore which traded around 172 per ton is well below Mays high of 237. Todays Change -0540 -025.

Iron ore and steel prices in several regions around the world have been falling in August potentially signaling some softness in what has been a historically pricey ferrous scrap market. The EIU expects 2021 hot-rolled coil steel prices on a free-on-board China basiswhich pertains to shipping and liability which impact coststo average 793 per metric ton up. The price plunge was mainly caused by the stricter Chinese steel production cuts in the second half of the year and steel demand weakened on the back of hot weather and rainfall in China as well as the rise in Covid-19 cases says Niki Wang managing editor pricing iron ore.

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