DAILY: Portside iron ore prices dip, trading stable
Feb 25, 2020 18:45
See Full-size Table Here
China’s imported iron ore prices in the port and seaborne markets decreased on February 25, with Mysteel’s PORTDEX 62% Fe Australian iron ore fines dipping by Yuan 6/wmt ($0.9/wmt) on day to Yuan 674/wmt FOT Qingdao and including the 13% VAT. On the same day, the SEADEX 62% Fe Australian iron ore fines index declined by $0.95/dmt on day to reach $89.9/dmt CFR Qingdao.
On Tuesday, most iron ore traders reduced their offer prices by Yuan 10-15/wmt in the morning to prompt more iron ore sales. Then in afternoon business, some conceded further ground, agreeing to discount another Yuan 5/wmt from their offer prices, Mysteel Global noted.
Steel mills observed the price declines of