DAILY: Portside iron ore price at near 7-month low

Source: Mysteel Nov 05, 2019 19:02

Chinese iron ore prices for port inventories and seaborne cargoes tracked differently on November 5, with Mysteel’s portside iron ore index hitting a near seven-month low, declining by another Yuan 12/wmt ($1.7/wmt) on day to Yuan 660/wmt FOT Qingdao including the 13% VAT. On the same day, the seaborne iron index was essentially unchanged from Monday, inching up by just $0.05/dmt on day to $83.1/dmt CFR Qingdao, according to Mysteel’s database.

On Tuesday, overall trading activity for iron ore port inventories in North and East China was busy. News that the volume of iron ore arriving at Chinese ports will likely be high this month, some iron ore traders decided to be flexible, trimming their initial offers by Yuan 5-10/wmt

Price Curve

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