DAILY: China’s portside iron ore price firming, trade stable

China’s iron ore market warmed up on November 14, reflecting the firmer steel-market sentiment the same day. On Thursday, Mysteel’s 62% portside iron ore price grew by Yuan 3/wmt ($0.4/wmt) on day to reach Yuan 636/wmt FOT Qingdao and including the 13% VAT, while the 62% seaborne iron ore price increased by $2.6/dmt on day to $83.7/dmt CFR Qingdao.
Iron ore traders held their port-inventory offer prices unchanged in early morning business Thursday to test market acceptance, as major steelmakers were conservative in buying, with fewer inquiries being heard, observed a market watcher based in East China. Some ore traders responded to the rise in steel prices and the fast growth of transactions


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