During the week ending December 29, domestic iron ore prices in China have showed a slight downtrend, while import iron ore prices have seen a small uptick.
At present, Indian fine ores of 63.5 percent grade are offered at $164/mt at Qingdao port, while Australian lump ores of 62 percent or 63 percent grade are also offered at $164mt, up $1.6/mt and $3.2/mt respectively week on week. Meanwhile, the quotation of 66 percent iron ore concentrate in Tangshan stands at RMB 920/mt ($146/mt), while the price of the same material has declined to RMB 790/mt ($125/mt) in Beipiao, both excluding VAT. Domestic and import prices of iron ore in China can be viewed in the SteelOrbis price reports section.
Australia miners have held new tenders for iron ore supplies, resulting in increased import iron ore offer prices; however, there have been few actual transactions due to low interest from buyers. Meanwhile, there has been a relatively greater number of transactions for Indian fine ores of relatively lower iron content. As for domestic iron ore, prices have softened slightly after a few weeks of stable movement. In particular, iron ore prices in Liaoning, the main iron ore producing region in China, have decreased significantly. With the approach of the Chinese New Year, it is expected that iron ore prices in China will be characterized by greater stability in the coming weeks.