At present, Indian fine ores of 63.5 percent grade are offered at $167.2/mt at Qingdao port, while Australian lump ores of 62 percent or 63 percent grade are priced at $172/mt. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan are at $146.5/mt, with prices of the same product at the level of $125.8/mt in Beipiao, both excluding VAT. Prices of imported and domestic production iron ore can be viewed in the SteelOrbis price reports section.
Influenced by the downtrend in the domestic steel market, in particular in semi-finished steel prices, iron ore traders in China have cut their sales prices slightly. In an effort to obtain more favorable iron ore prices, domestic mills have slowed down their purchasing activities for the time being. Overall, it is expected that iron ore prices in China will continue to trend down in the coming period.