DAILY: China’s import iron ore prices reverse up
Nov 28, 2019 19:07
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After Wednesday’s falls Chinese iron ore prices for port inventories and seaborne cargoes reversed up slightly on November 28, with Mysteel’s portside iron ore index rising by Yuan 2/wmt ($0.28/wmt) to Yuan 664/wmt FOT Qingdao including 13% VAT. Also on Thursday, the seaborne iron ore index recovered by $0.9/dmt on day to reach $87.8/dmt CFR Qingdao.
Today saw few steel mills table bids for iron ore port inventories in the morning – with some iron ore traders even lowering their offering prices for a while to generate interest – before trading gradually warmed up in the afternoon. For example, in North China’s Tangshan, several iron ore