At present, Indian fine ores of 63.5 percent grade are offered at $159.2/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $138.3/mt, and prices of the same material are at $120.6/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.
The increased iron ore quotations of international miners and the positive performance in the domestic steel futures market have provided support for upward movement of import iron ore prices in China. In addition, in the past week domestic steelmakers have increased their purchasing activity as compared to the previous week. Meanwhile, market participants are still cautious as regards the prospects for the steel and iron ore markets in the coming period. It is thought that iron ore prices in China will likely move sideways in the short term.