During the week ending September 27, import
iron ore prices to
China have dropped down slightly following the steep rises in the previous couple weeks. As compared to a week ago, offers of Indian, Australian and Brazilian
iron ore have on average fallen by $5/mt'. Meanwhile, domestic production
iron ore prices in
China have remained unchanged.
At present, Indian fine ores of 63.5 percent grade are offered at $131.7/mt at Qingdao port. Meanwhile, the quotation of 66 percent
iron ore concentrate in Tangshan stands at $127/mt, and the price of the same material is $100/mt in Beipiao, both excluding VAT.
Following the restocking activities of the previous two weeks, inquiries and bookings for
iron ore have decreased in
China. Small traders have slightly cut their offers in order to attract buyers. Larger traders are relatively optimistic as regards the prospects for the post-holiday market. It is expected that
iron ore prices in
China will trend sideways in the near future.