GMT+8( BJT)

DAILY: China’s iron ore prices rise on increased buying

Mysteel’s portside iron ore index reached Yuan 764/wmt ($107.2/wmt) FOT Qingdao and including the 13% VAT on October 8, higher by Yuan 8/wmt from September 30, the last working day for the portside market before China’s National Day holiday over October 1-7. Business only resumed on Tuesday. Also Tuesday, the seaborne iron ore index rose $0.15/dmt from Monday to $93.95/dmt CFR Qingdao. Seaborne business was uninterrupted by the holidays.
Iron ore traders at ports in North and East China held offer prices firm Tuesday morning, anticipating stronger ore demand from steelmakers after the holidays. More inquiries and transactions led some to lift offer prices in the afternoon. After the October 1 celebrations, authorities in key steelmaking cities gradually eased restrictions on local sintering

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