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China delivered iron ore costs Q4 2016: soaring producer margins

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Report summary

Iron ore costs on a value-in-use adjusted basis have fallen only US$0.07/tonne from the previous quarter. This is the slowest rate of cost reduction for more than two years. The limited cost reduction has been caused by uncontrollable factors; namely higher sea freight costs and higher iron ore prices. But higher iron ore prices are clearly a good thing for producers. With costs stable and prices rising we estimate iron ore margins are at their highest since early-2014.

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    China delivered costs Q4 2016.xls

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Table of contents

  • Iron ore costs stable but margins soar
  • Chinese domestic costs continue to fall

Tables and charts

This report includes 5 images and tables including:

Images

  • CFR North China cost curve 2016 (62% Fe fines equivalent)
  • Cash operating margins
  • CFR China cash cost by country
  • CFR China cash cost by percentile
  • China full cost curve 2016 (62% Fe fines equivalent)

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