At present, Indian fine ores of 63.5 percent grade are offered at $136.7/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $127/mt, and prices of the same material are at $106.1/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.
In the past week, prices of imported iron ore in China have been moving sideways as buyers and sellers have both been adopting a cautious approach. Some steel producers have reduced order tonnages, thinking that current offer prices are too high for them. However, most iron ore suppliers are quite positive on the prospects for the market next year. In the short term, the Chinese iron ore market is expected to trend sideways.