During the week ending April 16, prices of imported iron ore in China have moved on a stable trend, while transaction activity for imported iron ore has been at decent levels. At the same time, traders' offers of domestic production iron ore in Tangshan and Liaoning Province have also moved on a stable trend.
At present, Indian fine ores of 63.5 percent grade are offered at $64.4/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $77.3/mt and prices of the same material are at $61.2/mt in Beipiao, Liaoning, both excluding VAT. Prices of domestic production and imported iron ore in China can be viewed in the SteelOrbis price reports section.
During the given week, the significant rebound in iron ore futures prices in China has contributed to the stability of iron ore prices in the domestic spot market and has positively affected sentiment among traders. Meanwhile, steelmakers have stepped up their purchasing activities, and this has also provided support for iron ore prices. Demand from steelmakers is expected to remain at decent levels in the coming period. As for the coming week, it is expected that iron ore prices in the Chinese market will continue their stable trend, and may even indicate minor increases.