DAILY: China’s seaborne ore prices surge to 2-month high
Dec 09, 2019 19:42
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China’s imported iron ore prices surged on December 9, with Mysteel’s seaborne iron ore index jumping to a near two-month high of $93.8/dmt CFR Qingdao, up $5/dmt from last Friday. In parallel, Mysteel’s portside iron ore index also increased by a large Yuan 16/wmt ($3.13/wmt) from last Friday to reach Yuan 684/wmt – a high since October 30, FOT Qingdao including 13% VAT.
The first trading day of the week saw most iron ore traders raise their offering prices for their port inventories at the start of the day’s business, and with the strong iron ore futures price – which even hit limit-up later in the morning – many traders hiked offers for