DAILY: China portside iron ore prices dip, sales ease
Dec 12, 2019 19:03
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Chinese prices for port-market imported iron ore saw small decreases on December 12, with Mysteel’s portside iron index dipping by Yuan 4/wmt ($0.6/t) on day to Yuan 685/wmt FOT Qingdao including the 13% VAT. The same day, the seaborne iron ore index dipped $0.7/dmt on day to $93.8/dmt CFR Qingdao.
On Thursday, overall trading activity for iron ore port inventories cooled. Some iron ore traders decided to be flexible, trimming their initial offers by as much as Yuan 5/wmt or lowering them subsequently during negotiations to prompt sales and reduce stocks at hand.
However, after the Tangshan government announced new production