DAILY: China’s iron ore prices up but sales thin
Jul 14, 2020 19:13
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China’s prices for imported iron ore continued to rise on July 14, with Mysteel’s PORTDEX 62% Fe Australian Fines climbing by another Yuan 7/wmt ($1/wmt) on day to Yuan 859/wmt FOT Qingdao and including the 13% VAT. On the same day, the SEADEX 62% Fe Australian Fines price also rallied by $0.6/dmt on day to reach $112/dmt CFR Qingdao. Both prices refreshed 11-month highs.
On Tuesday amid the further rally in iron ore futures, most traders also adjusted their offering prices for different iron ore port inventories higher by Yuan 5-15/wmt in the morning, with many still relatively active in selling cargoes at hand. However, the further round of price increases caused most steelmakers