DAILY: China’s portside iron ore prices, trades both dip
Jan 19, 2021 18:53
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Prices for imported iron ore in China's portside and seaborne markets reversed down on January 19, with Mysteel's PORTDEX 62% Fe Australian Iron Ore Fines dropping by Yuan 13/wmt ($2/wmt) on day to Yuan 1,155/wmt FOT Qingdao and including the 13% VAT on January 19. The SEADEX 62% Fe Australian Iron Ore Fines index declined too, easing by $2.95/dmt on day to $169.65/dmt CFR Qingdao.
On Tuesday, market sentiment turned more bearish due to the drop in iron ore futures prices on the Dalian Commodity Exchange, with the DCE’s most traded ore futures contract for May delivery retreating after five working days of rises, dipping by Yuan 15/tonne from the previous settlement price. Accordingly, most