As of May 10, the price of Indian 63.5 percent fine ore at Qingdao Port stands at $164.5/mt, while the price of Australian 62-63 percent lump ore is at $170.1/mt. Meanwhile, in the Tangshan area the price of 66 percent iron ore concentrate is now at $144.7/mt, while in Beipiao the price of the same material stands at $124/mt, both exclusive of VAT. Prices of imports and domestic production iron ore in China can be viewed in the SteelOrbis price reports section.
While prices of semi-finished steel and finished steel have been declining in China, most global iron ore miners are trying to keep their prices unchanged. If domestic finished steel prices weaken further, iron ore prices in China will likely decline in the coming period.