DAILY: China’s iron ore prices firm, trading stable
Jul 15, 2020 19:21
See Full-size Table Here
China’s prices for imported iron ore remained generally stable on July 15, with Mysteel’s PORTDEX 62% Fe Australian Fines nudging down by a tiny Yuan 1/wmt ($0.1/wmt) on day to Yuan 858/wmt FOT Qingdao including the 13% VAT. On the other hand, the SEADEX 62% Fe Australian Fines index increased by a similarly small $0.6/dmt on day to reach $112.6/dmt CFR Qingdao. Nonetheless, this still marked a 11.5-month high since last August 2, Mysteel Global notes.
On Wednesday, iron ore traders in
the port market were relatively active in selling port inventories but firmed
their offers and were unwilling to lower their offering prices.
For their part, buying interest
among steel mills weakened as steel producers adopted a much more cautious
stance to await further price declines. Some steel mills