DAILY: China iron ore prices up but portside sales thin
Jul 03, 2020 19:13
See Full-size Table Here
China’s prices for imported iron ore recorded further gains on July 3, with Mysteel’s PORTDEX 62% Fe Australian Fines up by Yuan 3/wmt ($0.4/wmt) on day at Yuan 790/wmt FOT Qingdao and including the 13% VAT. On the same day, the SEADEX 62% Fe Australian Fines price also rallied by $0.65/dmt on day to reach $100.4/dmt CFR Qingdao.
On Friday, buying interest among steel mills for additional iron ore port inventories weakened, partly because many makers had completed several rounds of replenishment previously.
For their part, many iron ore traders were relatively active in selling port inventories at hand but were unwilling to lower offering prices, with some even