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DAILY: China’s iron ore price soars after CNY break

China’s prices for imported iron ore at ports and for seaborne cargoes swelled on February 18, the first trading day after the Chinese New Year break over February 11-17, with more trades concluded compared with February 10, the last business day prior to the break.
On February 18, Mysteel’s PORTDEX 62% Fe Australian Iron Ore Fines surged Yuan 34/wmt ($5.3/wmt) from February 10 to Yuan 1,173/wmt FOT Qingdao and including the 13% VAT. No PORTDEX was published during CNY break. On Thursday, the SEADEX 62% Fe Australian Iron Ore Fines increased too by $10.85/dmt over


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