UTC+8 ( BJT)

DAILY: Chinese iron ore prices record new one-year highs

China’s prices for imported iron ore continued to increase on August 3, with Mysteel’s PORTDEX 62% Fe Australian Fines gaining another Yuan 19/wmt ($2.7/wmt) from last Friday to reach Yuan 891/wmt FOT Qingdao and including the 13% VAT, refreshing its one year high. On the same day, the SEADEX 62% Fe Australian Fines price increased by $5.7/dmt on day to $116.35/dmt CFR Qingdao, also a new high since July 31, 2019.
On Monday, iron ore traders were relatively active in selling port inventories and many lifted their offering prices for different products by Yuan 10-15/wmt in the morning amid the stronger market for iron ore futures. And in the afternoon, some traders raised their offering prices by another Yuan 5/wmt after watching iron ore futures

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