DAILY: China’s import iron ore prices stabilize
Nov 13, 2019 18:55
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Chinese iron ore prices for port inventories and seaborne cargoes were generally steady on November 13, with Mysteel’s portside iron ore index reversing down by a slight Yuan 1/wmt ($0.1/wmt) on day to Yuan 633/wmt FOT Qingdao including 13% VAT. Also on Wednesday, the seaborne index rose by a tiny $0.3/dmt on day to $81.1/dmt CFR Qingdao.
Most iron ore traders at ports actively offered and slightly raised their prices on Wednesday by around Yuan 5/tonne from Tuesday, driven by the yesterday’s increased trading volumes and the upward trend of DCE iron ore futures. But some traders who thought the market would remain bearish opted to cut