DAILY: China’s imported iron ore prices surge
Jul 13, 2020 19:11
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Mysteel’s PORTDEX 62% Fe Australian Fines rose further on July 13 by a large Yuan 31/wmt ($4.4/wmt) – the largest single-day jump since May 29 – from last Friday to reach Yuan 852/wmt FOT Qingdao and including the 13% VAT. On the same day, the SEADEX 62% Fe Australian Fines index reached $111.4/dmt CFR Qingdao, higher by $4.55/dmt from July 10. Both prices were 11-month highs.
On Monday, the most-traded iron ore futures contract on the Dalian Commodity Exchange (DCE) for September closed the daytime session at Yuan 829/dmt, also an 11-month high and climbing by Yuan 38/dmt from the settlement price on July 10. The pick-up in futures prices prompted most traders at ports to