During the week ending June 14, import iron ore prices in China have been following a stable trend, while prices of Chinese domestic production iron ore differ depending on the regions. In Tangshan, iron ore concentrate prices have trended up slightly, while in Beipiao iron ore concentrate prices have continued their sideways trend.
At present, Indian fine ores of 63.5 percent grade are offered at $155.1/mt at Qingdao port, while Australian lump ores of 62 percent or 63 percent grade are priced at $161.4/mt. Meanwhile, the quotation of 66 percent iron ore concentrate in Tangshan is at $136.1/mt, and the price of the same product stands at $115.5/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.
It is heard from market players that the rebound of semi-finished prices has pushed up local iron ore prices in Tangshan. Despite the increased volume of inquiries from steel mills, the scarcity of actual transactions has made it difficult for import offers to rise. It is expected that the Chinese iron ore market will follow a more or less sideways trend in the coming week.