As of June 7, the price of Indian 63.5 percent fine ore at Qingdao Port stands at $155.1/mt, while the price of Australian 62-63 percent lump ore is at $161.4/mt. Meanwhile, in the Tangshan area the price of 66 percent iron ore concentrate is now at $132.9/mt, while in Beipiao the price of the same material stands at $115.5/mt, both exclusive of VAT. The prices of domestic production and imported iron ore prices in China can be viewed in the SteelOrbis price reports section.
Following the improvement in confidence in the Chinese iron ore market in the previous week amid the approval of new projects by China's National Development and Reform Commission (NDRC), in the past week there has been an increase in pessimism in the market again. With low volumes of inquires, it appears difficult for iron ore import prices to rise. In the past week, some deals for iron ore concentrate in the domestic market caused prices to rise slightly in Tangshan. It is thought that the Chinese iron ore market may indicate slight downward movement in the coming week.