At present, Indian fine ores of 63.5 percent grade are offered at $73.5/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.
During the given week, iron ore transaction activity in China has seen some improvement as steelmakers, miners and traders have gradually resumed their trading activities, though normal trading activity levels have not been reached yet. However, since finished steel prices in the Chinese domestic market have not performed so well, prices of imported iron ore have indicated a slight downtrend. Iron ore trading activities are expected to improve further in the coming week, though significant declines in iron ore futures prices at Dalian Commodity Exchange will negatively impact iron ore prices in the spot market. It is expected that prices of imported iron ore in the Chinese market will continue their slight downtrend in the coming week.
$1 = INR 6.27