At present, Indian fine ores of 63.5 percent grade are offered at $159.5/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $141.3/mt, while the price of similar material is at the level of $119/mt in Beipiao, both excluding VAT. Prices of imported and domestic production iron ore in China can be viewed in the SteelOrbis price reports section.
In the past week, activity has increased obviously in the Chinese iron ore market, while there is a greater volume of inquiries from domestic steel mills. Accordingly, the international miners have raised their offers, resulting in increased confidence among domestic iron ore traders, who have thus also raised their prices. However, finished steel prices in China are still characterized by softness at the current time and so it is thought that it will not be easy for iron ore prices in China to maintain their rebound over an extended period.