UTC+8 ( BJT)

DAILY: China iron ore prices at near 10-month high

Mysteel’s PORTDEX 62% Fe Australian Fines index increased for a third day on May 29, rising by another Yuan 32/wmt ($4.5/wmt) on day to reach a near ten-month high of Yuan 774/wmt FOT Qingdao and including the 13% VAT. On the same day, the SEADEX 62% Fe Australian Fines price actually reached a ten-month high after gaining $4.4/dmt on day to settle at $101.05/dmt CFR Qingdao.
On Friday, China’s portside iron ore market stayed active, influenced by bullish sentiment in the futures market. More inquiries from steel mills for port inventories were tabled, as many steelmakers with low inventories actively purchased iron ore products for replenishment. For their part, many iron ore traders seized the chance and firmed their offers in

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