Iron ore prices in China on stable trend ahead of holiday

During the week ending February 12, prices of imported iron ore in China have indicated an overall stable trend, while transaction activity for imported iron ore has been at decent levels. At the same time, traders' offers of domestic production iron ore in Tangshan and Liaoning Province have also followed a stable trend.
 
At present, Indian fine ores of 63.5 percent grade are offered at $75.3/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $76.9/mt and prices of the same material are at $62.5/mt in Beipiao, Liaoning, both excluding VAT. Prices of domestic production and imported iron ore in China can be viewed in the SteelOrbis price reports section.
 
During the given week, Chinese steelmakers have continued to make inquiries and conclude transactions for iron ore, and so most traders and miners have kept their offer prices stable. though a few traders have tried to increase the offer prices for iron ore. As for the trend after the Spring Festival holiday (February 18-24), market participants mostly think iron ore prices will see a recovery and so they are seeking to keep their prices stable for the time being. It is expected that iron ore prices will move on a stable trend in the coming week and will likely indicate a slight uptrend after the holiday.