At present, Indian fine ores of 63.5 percent grade are offered at $151.1/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $135/mt, and prices of the same material are at $117.4/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.
After the Labor Day holiday, an minor increase in the volume of customer inquiries has been witnessed in the Chinese iron ore market, with a small number of steel mills replenishing their inventories. In the import market, despite recent arrivals of foreign supplies at Chinese ports, Chinese buyers are reluctant to place orders. It is expected that in the near term iron ore prices in China will continue to trend down slightly.