At present, Indian fine ores of 63.5 percent grade are offered at $146.3/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $133.4/mt, and prices of the same material are at $114.1/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.
Despite a minor improvement in mills' order books, most orders have been for low grade iron ore. Thus, previously high-priced premium quality iron ore supplies have started to soften in price. Given the general sluggish steel market situation, steel mills have been trying to cut their production costs by seeking low-priced iron ore materials. It is thought that iron ore prices in China are unlikely to rebound in the short term.