Key Notes for 2026 Iron Ore Agency Import: Full-Process Compliance, Risk Avoidance & Practical Guide

Customs Valuation: Avoid Price Declaration Risks and Tax Losses

In 2026,the customs valuation logic for iron ore and other bulk cargo has been upgraded to a big data comparison model.It not only checks the consistency between the declaration form and the contract but also cross-verifies with global iron ore futures prices and recent transaction data from the same port.For example,a trader in Zhejiang previously had a declared price 12% lower than the market average price in the same period,was listed as a key inspection target by customs,and had goods detained for 14 days,resulting in nearly 200,000 yuan in demurrage fees.

Core Operational Points

• Prepare Certificate of Origin,EXW/FOB transaction certificates,and copy of B/L in advance to ensure the price composition details (e.g.freight,insurance,packaging fees) fully match the declaration form;
• If related-party transactions are involved,proactively submit related party relationship statement and fair price proof to avoid being deemed as under-declaring prices;
• Leverage Shanghai port’s big data prediction system to pre-simulate customs valuation results and adjust declaration strategies,reducing inspection probability.

Pre-commodity Inspection: Strictly Control Quality and Environmental Compliance

Iron ore is a solid mineral product.In 2026,commodity inspection has added mandatory radioactive inspection items and random sampling for "solid waste attribute identification".Non-compliant goods will be directly rejected,with return costs exceeding 15% of the goods value.

Key Control Links

For bulk cargo characteristics,focus on two core aspects:

For example,a steel mill in Shandong was previously involved in an Australian iron ore rejection case.Due to overseas suppliers failing to conduct radioactive inspection as required,the goods were found to have excessive radioactivity upon arrival,resulting in nearly 300,000 yuan in return and re-purchase costs,delaying production by 10 days.

Import License Application: Streamline Processes and Time Management

In 2026,iron ore import licenses are handled nationwide online.Shanghai port can apply for licenses across the country on behalf of enterprises,eliminating the need for on-site trips.Note that licenses are valid for 60 days and only correspond to specified overseas suppliers and ports; changes require re-application.

Efficient Application Guidelines

• Prepare Enterprise Import-Export Operation Certificate,copy of import contract,and Certificate of Origin in advance and submit to Shanghai port application window for approval within 3 working days;
• For RCEP member countries (e.g.Australia,New Zealand),apply for RCEP Certificate of Origin to enjoy tariff reduction of 3%-5%;
• Submit applications 15 days in advance for overseas holidays like Ramadan and Christmas to avoid delays due to overseas supplier document shortages.

Risk Early Warning: Hidden Pitfalls in Bulk Cargo Importation

Hidden risks in iron ore agency import mainly focus on demurrage fees,ownership control,and exchange losses:

• Demurrage Fee Control: Agree free demurrage period with shipping companies (usually 7 days).Daily demurrage fees exceed $12,000 per ship after expiry; monitor arrival time and arrange customs clearance in advance;
• Ownership Risk Control: Strictly verify overseas supplier qualifications when using telex release B/L to avoid ownership disputes from fake bills;
• Exchange Loss Prevention: In 2026,RMB exchange rate volatility increased.Use exchange locking tools to reduce losses by 2%-3%.

Leveraging Zhongshitong’s global agency network,nationwide port declaration is available.Coordinating resources from overseas suppliers,shipping companies,and customs,a full-process risk control system is built to ensure compliance and efficiency.For dipstick vs.platform weighing errors,third-party notarization agencies are engaged to supervise loading/unloading,controlling errors within ±0.3% to prevent payment disputes from weight discrepancies.