DAILY: China’s imported iron ore prices slide further
Sep 23, 2020 19:08
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Mysteel’s PORTDEX 62% Fe Australian Iron Ore Fines dropped by Yuan 12/wmt ($1.8/wmt) on day to Yuan 898/wmt FOT Qingdao and including the 13% VAT on September 23, or hitting the low since August 3. On Wednesday, the SEADEX 62% Fe Australian Iron Ore Fines declined by $2.2/dmt on day to $114.5/dmt CFR Qingdao, hitting a low since last month.
Noting the weakening market sentiment, iron ore traders continued to decline offer prices for port inventories by as much as Yuan 10/wmt on Wednesday morning. Fearing iron ore prices to soften further, iron ore inquiries from domestic steel mills trimmed. Although some plants still had demand for pre-holiday replenishment before