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Despite the buoyancy of Chinese finished steel prices currently, China's imported iron ore price reversed down on April 24. On Tuesday, Mysteel's 62% Portside Iron Ore Fines Index softened by Yuan 5/wmt ($0.8/wmt) on day to Yuan 478/wmt FOT Qingdao and including 17% VAT. The same day, Mysteel 62% Iron Ore Index edged down $0.1/dmt on day to $67.05/dmt CFR Qingdao.
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China's imported iron ore market moved up on April 23, mainly stimulated by the stronger domestic market for finished steel, with Mysteel's 62% Portside Iron Ore Fines Index picking up Yuan 16/wmt ($2.5/wmt) on day to Yuan 483/wmt FOT Qingdao and including the 17% VAT.
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Chinese prices of imported iron ore lost ground slightly on April 20, with Mysteel's 62% Portside Iron Ore Fines Index easing Yuan 6/wmt ($0.95/wmt) on day Friday to Yuan 467/wmt FOT Qingdao and including the 17% VAT.
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China's imported iron ore market continued to warm up on April 19, mainly supported by buoyant sentiment from the finished steel market, sources said Thursday. Domestic iron ore failed to follow the trend, however.
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Chinese prices of imported iron ore nudged up a little on April 18, with Mysteel's 62% Portside Iron Ore Fines Index only rising by another Yuan 2/wmt ($0.3/wmt) on day to Yuan 450/wmt FOT Qingdao and including the 17% VAT.
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China's market for port stocks of imported iron ore warmed up a little on April 17 with higher volumes of ore traded. However, Mysteel's 62% Portside Iron Ore Fines Index remained unchanged at Yuan 448/wmt ($71.5/wmt) on day FOT Qingdao and including 17% VAT on Tuesday.
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Mysteel's 62% Portside Iron Ore Fines Index dipped Yuan 7/wmt ($1.1/wmt) from Friday to Yuan 448/wmt FOT Qingdao including the 17% VAT on April 16 due to lackluster buying activity, market watchers said.
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Market trends for purchases of iron ore port stocks in North and East China remained divided today. Major new deals were concluded at ports in North China's Hebei, while the market remained lacklustre at ports in East China, Mysteel noted on April 13. On Friday, Mysteel's 62% Portside Iron Ore Fines Index rose Yuan 5/wmt ($0.8/wmt) on day to Yuan 455/wmt FOT Qingdao and including 17% VAT.
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China's imported iron ore prices softened on Thursday partly due to Chinese steelmakers' lack of interest in procuring ore. As a result, Mysteel's 62% Portside Iron Ore Index fell by Yuan 5/wmt (0.8/wmt) day on day to Yuan 450/wmt FOT Qingdao and including the 17% VAT as of April 12.
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Mysteel's 62% Portside Iron Ore Fines Index remained unchanged on day at Yuan 455/wmt ($72/wmt) FOT Qingdao and including 17% on April 11. But trading volumes of iron ore port inventory declined markedly compared with trades completed on Tuesday, market watchers said.
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Chinese prices of imported iron ore gained ground on April 10, with Mysteel's 62% Portside Iron Ore Fines Index rising by another Yuan 7/wmt ($1.1/wmt) on day to Yuan 455/wmt FOT Qingdao and including the 17% VAT.
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Mysteel's 62% Portside Iron Ore Index saw a slight rise of Yuan 3/wmt ($0.48/wmt) today from April 8 to Yuan 448/wmt FOT Qingdao and including the 17% VAT as of April 9. Sunday was a normal working day in China after the country's three-day Tomb-Sweeping holiday from last Thursday.
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Prices of imported iron ore saw a decline today both for port inventories and seaborne cargoes. On April 4, Mysteel's 62% Portside Iron Ore Index dipped Yuan 5/wmt ($0.8wmt) on day to Yuan 449/wmt FOT Qingdao and including 17% VAT. The same day, Mysteel's 62% Iron Ore Index reversed down $0.45/dmt on day to $63.35/dmt CFR Qingdao.
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Chinese prices of imported iron ore lost ground on April 3, with Mysteel's 62% Seaborne Iron Ore Fines Index falling by $1.55/dmt on day to $63.8/dmt CFR Qingdao. Though the decline for Mysteel's 62% Portside Iron Ore Fines Index was less steep, it too dipped by Yuan 5/wmt ($0.8/wmt) on day to Yuan 454/wmt FOT Qingdao and including the 17% VAT.
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Chinese prices of imported iron ore gained further strength on Monday with Mysteel's 62% Portside Iron Ore Index edging up by Yuan 3/wmt (0.48/wmt) from last Friday to Yuan 459/wmt FOT Qingdao and including the 17% VAT.
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Chinese prices of imported iron ore showed signs of strengthening on March 30 with Mysteel's 62% Portside Iron Ore Index climbing by Yuan 3/wmt ($0.48/wmt) day on day to Yuan 456/wmt FOT Qingdao and including the 17% VAT. In parallel, Mysteel's 62% Seaborne Iron Ore Index rose by $1.35/dmt on day to $64.85/dmt CFR Qingdao.
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Mysteel's 62% Seaborne Iron Ore Index rose by $0.6/dmt on day to $63.5/dmt CFR Qingdao on March 29, mainly supported by the buoyant steel market sentiment.
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Chinese prices of imported iron ore softened on March 28, with Mysteel's 62% Portside Iron Ore Index sliding by Yuan 4/wmt ($0.64/wmt) day on day to Yuan 453/wmt FOT Qingdao and including the 17% VAT. In parallel, Mysteel's 62% Seaborne Iron Ore Index eased by $0.6/dmt on day to $62.9/dmt CFR Qingdao.
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Chinese prices of imported iron ore began increasing again on March 27, with Mysteel's 62% Portside Iron Ore Fines Index rising by Yuan 7/wmt ($1.1/wmt) day on day to Yuan 457/wmt FOT Qingdao and including the 17% VAT. At the same time Mysteel's 62% Seaborne Iron Ore Fines Index also edged up by $0.4/dmt on day to $63.5/dmt CFR Qingdao.
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The decline in Mysteel's 62% Portside Iron Ore Index took a pause Monday to stay at Yuan 450/wmt ($67.9/wmt) FOT Qindao and including 17% VAT, unchanged from last Friday. The same day, Mysteel's 62% Seaborne Iron Ore Index fell by $0.8/dmt on day to $63.1/dmt CFR Qingdao - a new four-month low, Mysteel data shows.
