DAILY: China portside iron ore prices stable
Oct 27, 2020 19:22
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Prices for imported iron ore in China's portside and seaborne markets were mixed on October 27. Mysteel's PORTDEX 62% Fe Australian Fines index decreased for a third straight day, slipping by Yuan 1/wmt ($0.15/wmt) on day to Yuan 859/wmt FOT Qingdao and including the 13% VAT, while the SEADEX 62% Fe Australian Fines price rebounded slightly, nudging up by $0.55/dmt on day to reach $115.65/dmt CFR Qingdao from Monday’s one-month low.
OnTuesday, buying interest among steelmakers for additional iron ore quantities at port was limited, as inquiries stayed low and some domestic steel mills held a wait-and-see stance. Consequently,even though iron ore traders were relatively active in tabling offers for their port inventories,trading overall remained mediocreas sentiment was still weak.