At present, Indian fine ores of 63.5 percent grade are offered at $120.1/mt at Qingdao port. Meanwhile, the quotation of 66 percent iron ore concentrate in Tangshan stands at $121.6/mt, and the price of the same material is at the level of $97.9/mt in Beipiao, both are excluding VAT. Prices of domestic production and imported iron ore in China can be viewed in the SteelOrbis price reports section.
The sudden increases in imported iron ore prices in China are directly attributable to the speculative activity of domestic traders, as reported by market insiders. It seems that domestic steel mills have not speeded up the pace of their purchases amid the new uptrend in prices. It is thought that the Chinese iron ore market may follow a sideways trend in the coming period.