DAILY: China’s SEADEX price refresh 7-year high – again
Dec 04, 2020 19:07
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China’s imported iron ore prices continued to spike on December 4 although the trading activity was cool throughout the day. On Friday, Mysteel’s PORTDEX 62% Fe grade Australian Iron Ore Fines surged by Yuan 23/wmt ($3.5/wmt) on day to Yuan 944/wmt FOT Qingdao, a near three-month high. The SEADEX 62% Fe grade Australian Iron Ore Fines index increased too, rising by a solid $6.9/dmt on day to $144.85/dmt CFR Qingdao, a new high since March 8 2013.
Traders at China’s portside iron ore market kept raising their offer prices in the morning session on Friday, encouraged by the bullish sentiment in the futures market. Today, the most traded iron ore futures contract on the Dalian Commodity Exchange for January delivery climbed by another 4.2% from the previous