At present, Indian fine ores of 63.5 percent grade are offered at $154.3/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 increase in the volume of inquiries and purchases is the main reason why iron ore prices in China have halted their declining trend. Meanwhile, against the background of the previous declines in iron ore prices, the international iron ore mining giants reduced deliveries in order to provide support for their prices.
Participants in the Chinese domestic iron ore market are now more optimistic on the future prospects of the market. It is thought that iron ore prices in China will witness slight rises in the coming week.