In the past week, the Chinese iron ore market has seen slight fluctuations. Imported iron ore prices are generally stable at high levels though some slight upticks have been seen, while domestic iron ore prices have decreased by a small margin.
As of April 12, the price of Indian 63.5 percent fine ore at Qingdao Port stands at $168.3/mt, while the price of Australian 62-63 percent lump ore is at $173/mt. Meanwhile, in the Tangshan area the price of 66 percent iron ore concentrate is now at $149.2/mt, while in Beipiao the price of the same material stands at $128.6/mt. Prices of imported and domestic production iron ore in China can be viewed in the SteelOrbis price reports section.
Following previous replenishment of inventories, steel mills in China have lately slowed down their purchasing activity, and so some local traders have softened their prices slightly. In spite of the low volume of inquiries, the global miners are keeping their prices at high levels. It is thought that iron ore prices in China will likely move sideways in the short term.