Caofeidian port, located in Tangshan City, Hebei Province, China, is the biggest iron ore importing port of Hebei. The iron ore import price of Caofeidian directly influence the raw material cost of Tangshan City and the steel enterprises located in Hebei Province. In July, the iron ore import price of Caofeidian was $155/mt, reaching the highest level. However, the iron ore cost of steel enterprises located in Hebei province was still less than the national level.
According to Statistics of Hebei Entry-Exit Inspection and Quarantine Bureau, the iron ore import price has continued to climb this year. In the first seven months of 2011, Caofeidian Port's average iron ore import price increased 43 percent year on year to $147/mt and it also increased once again in July.
In the first seven months 2011, Caofeidian Port iron ore imports increased 41.88 percent year on year to 44.38 million mt, worth a total of $6.534 billion.