China SEADEX iron ore price climbs past $100/dmt

After staying below $100/dmt for nearly two months, the Mysteel SEADEX 62% Australian Fines index finally pushed past this level on July 21, rising by $2.8/dmt on day to reach $102.55/dmt CFR Qingdao. The recent increase has been driven by some favorable news and improved market sentiment, Mysteel Global notes.

Prior to this month, the SEADEX price had been flagging for about a month and on June 25 had languished at $91.9/dmt CFR Qingdao, the index's lowest level since last October, Mysteel's assessment showed. Behind the earlier slide in China's ore price was weakening demand for the raw material during