At present, Indian fine ores of 63.5 percent grade are offered at $152.7/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $136.7/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.
Due to the Labor Day Holiday (Apr. 29-May 1), transacted tonnages in the Chinese iron ore market have been very small in the past week. At present, market players are not optimistic on the outlook for the market in light of the current economic sluggishness in China. Iron ore buyers continue to wait for lower prices. As regards the short term, iron ore prices in China are expected to trend down slightly.