DAILY: China’s imported iron prices dip, trading thin
Oct 11, 2019 18:53
China’s iron ore prices for both port inventories and seaborne cargoes declined on October 11, with Mysteel’s portside iron ore index decreasing by Yuan 5/wmt ($0.7/wmt) on day to Yuan 751/wmt FOT Qingdao and including the 13% VAT. On the same day, the seaborne iron ore index edged down by $1.15/dmt on day to reach $92.65/dmt CFR Qingdao, according to Mysteel’s database.
On Friday following several rounds of replenishments of ore by steelmakers over the prior few days, buying interest among many mills weakened, as evidenced by the reduced number of inquiries. Contributing to the quieter mood too was the Tangshan government’s announcement Thursday of yet another round of production restrictions, prompting