During the week ending February 26, prices of imported
iron ore in
China have indicated an overall stable trend, though with slight fluctuations seen for some ores, while transaction activity for imported
iron ore has been slack. At the same time, traders' offers of domestic
production iron ore in Tangshan have indicated slight rises, while prices in Liaoning Province have followed a stable trend.
At present, Indian fine ores of 63.5 percent grade are offered at $75.1/mt at Qingdao port. Meanwhile, quotations of 66 percent
iron ore concentrate in Tangshan stand at $78.3/mt and prices of the same material are at $62.3/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.
Transaction activity has not yet fully resumed after the Spring Festival holiday (Feb. 18-24), resulting in overall stability of offer prices for
iron ore, though with some slight fluctuations.
Some traders have not yet returned from their holiday, while the finished steel market has remained quiet. Market participants in the
iron ore market are waiting for signs of a specific trend. It is expected that
iron ore prices in the Chinese market will just indicate slight fluctuations in the coming week.