Signs of stability in China’s iron ore imports
After a rollercoaster ride through the first half of the year, iron ore prices have been stable in China as of late. The recent respite from turbulent prices led Hong Kong based investment firm Noble Group Ltd. to purchase all iron ore resources at India Port (Fe 64%). This would seem to indicate that the company is confident about China iron ore import market going forward. At present, the import price of India iron ore (Fe 63.5%) is RMB 660-680/ton at the ports of Qingdao and Tianjin. The price of India iron ore fines (Fe 65%) at the same ports is RMB 750-780/ton. The supply of India iron ore fines has been short recently because of the monsoon season.