At present, Indian fine ores of 63.5 percent grade are offered at $137.8/mt at Qingdao port. Meanwhile, quotations of 66 percent iron ore concentrate in Tangshan stand at $129.8/mt, and prices of the same material are at $109/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.
Given the sluggish demand for import iron ore resources, offer price levels for imported material have generally softened. As for domestic production iron ore, prices have also weakened in spite of some support from demand. On the whole, it is expected that iron ore prices in China will continue to follow a slight downtrend in the coming week.