During the week ending April 17, prices of imported iron ore in China have moved on a slight downtrend, while transaction activity has declined and is now at slack levels. At the same time, traders of domestic production iron ore in the Tangshan district have increased their offer prices, while traders in Liaoning have kept their prices stable.
At present, Indian fine ores of 63.5 percent grade are offered at $129.1/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $124.2/mt and prices of the same material are at $106.2/mt in Beipiao, both excluding VAT. Prices of domestic production and imported iron ore in China can be viewed in the SteelOrbis price reports section.
Having replenished their iron ore stocks in previous weeks, Chinese steelmakers have reduced their purchases of iron ore, while some iron ore traders and mining enterprises have cut their offer prices in order to attract orders. Meanwhile, following the recent price rises, many market participants prefer to stand aside and watch the market for the moment. It is thought that iron ore prices in the Chinese market will fluctuate within a narrow range in the coming week. In the longer term, domestic iron ore prices will be closely linked to finished steel price movements in the Chinese market.