At present, Indian fine ores of 63.5 percent grade are offered at $136.7/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $125.4/mt, and prices of the same material are at $107.7/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.
During China's Dragon Boat Festival holiday, domestic steel mills did not halt their production. However, iron ore tonnages booked in the market have decreased significantly, with iron ore prices softening further. With the approach of the slow season for the steel industry, traders are still maintaining a wait-and-see stance. In the near term, iron ore prices in China are expected to remain on their weak trend.