DAILY: China portside iron ore prices up, seaborne down
Aug 14, 2020 19:10
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Prices for imported iron ore in China’s portside and seaborne cargo markets deviated on August 14, with Mysteel’s PORTDEX 62% Fe Australian Fines index rising by Yuan 9/wmt ($1.3/wmt) on day to reach Yuan 939/wmt FOT Qingdao and including the 13% VAT, while the SEADEX 62% Fe Australian Fines price dipped further by $0.9/dmt on day to reach $120.75/dmt CFR Qingdao.
On Friday, buying interest among steel mills for additional iron ore port inventories weakened, largely because many makers had completed several rounds of replenishment previously. But at the same time, the higher offering prices many iron ore traders had tabled following the uptick in iron ore futures prices had also