DAILY: China’s iron ore prices down though trading up
Oct 14, 2019 19:30
China’s iron ore prices for both port inventories and seaborne cargoes declined on October 14, with Mysteel’s portside iron ore index losing another Yuan 8/wmt ($1.1/wmt) on from October 12 to Yuan 741/wmt FOT Qingdao and including the 13% VAT, its lowest level since September 6. October 12 was a substitute working day in China, Mysteel notes. Also on Monday, the seaborne iron ore index also dipped by $1.55/dmt from October 12 to $91.10/dmt CFR Qingdao.
On Monday, iron ore traders at ports in North and East China first tried to keep their offer prices for their port inventories firm in the morning, with some steel mills also tabling inquiries for port inventories, aiming to undertake some replenishment at the beginning of the week for their