UTC+8 ( BJT)

DAILY: China’s portside iron ore price hits 1.5-month low

Mysteel’s PORTDEX 62% Fe Australian Iron Ore index slid by Yuan 6/wmt ($0.9/wmt) on day to Yuan 910/wmt FOT Qingdao and including the 13% VAT on September 22 to reach a 1.5-month low. On Tuesday, the SEADEX 62% Fe Australian Iron Ore price declined by $2.85/dmt on day to also reach a 1.5-month low, settling at $116.7/dmt CFR Qingdao.
Iron ore traders continued to clip offer prices for port stocks today, reducing these by about Yuan 5/wmt in the morning session. Noting the low volume of ore transactions on Monday, traders’ offering activities were also cool. But prompted by the lower prices, domestic steel mills issued slightly more inquiries

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