DAILY: China imported iron ore prices refresh 7-m high
May 25, 2020 18:55
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Mysteel’s PORTDEX 62% Fe Australian Fines index refreshed its seven-month high again on May 25, rising by another Yuan 5/wmt ($0.7/wmt) from last Friday to reach Yuan 747/wmt FOT Qingdao and including the 13% VAT. On the same day, the SEADEX 62% Fe Australian Fines price remained unchanged at $96.2/wmt FOT Qingdao, however.
On Monday, market sentiment was bullish.
Many iron ore traders showed their confidence in iron ore prices by firming
their offers from Friday, with some even lifting their offers by Yuan 3-5/wmt.
For their part, some steelmakers
continued to actively submit inquiries. Given the higher prices though, only
those mills in urgent need for