DAILY: China iron ore prices up, trading thin
Oct 30, 2020 18:35
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Prices for imported iron ore in China’s portside and seaborne cargo markets strengthened on October 30, with Mysteel’s PORTDEX 62% Fe Australian Fines index recovering by Yuan 9/wmt ($1.3/wmt) on day to reach Yuan 873/wmt FOT Qingdao and including the 13% VAT. On the same day, the SEADEX 62% Fe Australian Fines price also increased by $2/dmt on day to $117.9/dmt CFR Qingdao.
On Friday, many ore traders were active in tabling offers
for their port inventories at hand, and some raised their offering prices by
Yuan 5-10/wmt following the increase in iron ore futures prices in Dalian
throughout the day.
However, buying interest among many steel mills for
additional iron ore port inventories weakened, as most had