DAILY: China portside iron ore price stable, trade mixed
Aug 05, 2020 19:22
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China’s portside iron ore market was stable on August 5, though trading activities were mixed at different markets. On Wednesday, Mysteel’s PORTDEX 62% Australian Fines price was unchanged at Yuan 905/wmt ($130/wmt) FOT Qingdao and including the 13% VAT, while the SEADEX 62% Australian Fines index softened by $0.3/dmt on day to $117.35/dmt CFR Qingdao.
Traders at major Chinese portside markets raised offer prices by about Yuan 5/wmt in the morning session on Wednesday, after noting that run rates of blast furnaces at domestic steel mills continue to be high.
Ore inquiries from steelmakers were fewer at markets in East China, while local traders were reluctant