DAILY: China’s seaborne iron ore price up, portside down
Dec 01, 2020 19:00
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China’s imported iron ore market saw prices for port inventories and seaborne cargos move in opposite directions on December 1, with Mysteel’s PORTDEX 62% Fe Australian Fines index inching down by Yuan 1/wmt ($0.2/wmt) on day to Yuan 904/wmt FOT Qingdao and including the 13% VAT. However, the SEADEX 62% Fe Australian Fines price rose by another $0.75/dmt on day to $132.85/dmt CFR Qingdao, refreshing the new high since January 2014.
On Tuesday, iron ore trading activity at China’s ports was generally a little more lively compared to Monday’s, though sellers engaged more actively than buyers, Mysteel observed. The steelmakers that finally concluded some deals were, again, mostly those needing to fulfill their near-term production requirements. Ports in East China’s Shandong