At present, Indian fine ores of 63.5 percent grade are offered at $168.8/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $147.9/mt, and prices of the same material are at $131.8/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.
The recent declines in steel prices in China have also dragged down iron ore prices. Currently, steelmakers are mostly just making inquiries instead of placing orders. As for the coming week, it is thought that iron ore prices in China may indicate some minor fluctuations.