During the week ending February 12, prices of imported
iron ore in
China have indicated an overall 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 followed a stable trend.
At present, Indian fine ores of 63.5 percent grade are offered at $75.3/mt at Qingdao port. Meanwhile, quotations of 66 percent
iron ore concentrate in Tangshan stand at $76.9/mt and prices of the same material are at $62.5/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, Chinese steelmakers have continued to make inquiries and conclude transactions for
iron ore, and so most traders and miners have kept their offer prices stable. though a few traders have tried to increase the offer prices for
iron ore. As for the trend after the Spring Festival holiday (February 18-24), market participants mostly think
iron ore prices will see a recovery and so they are seeking to keep their prices stable for the time being. It is expected that
iron ore prices will move on a stable trend in the coming week and will likely indicate a slight uptrend after the holiday.