DAILY: China’s portside iron ore price at 5-month low
Oct 17, 2019 19:06
China’s iron prices for both port inventories and seaborne cargoes continued to fall on October 17, with Mysteel’s portside iron ore index decreasing by Yuan 18/wmt ($2.5/wmt) on day to hit a five-month low of Yuan 694/wmt FOT Qingdao and including the 13% VAT. On the same day, the seaborne iron ore index dipped by $0.8/dmt on day to refresh its six-week low of $85.85/dmt CFR Qingdao.
On Thursday, many iron ore traders in North China continued voluntarily lowering their offering prices for their port inventories at hand by around Yuan 15/wmt as they chased more deals, especially at ports in Tangshan. However, buying interest among steelmakers in Tangshan has been affected by the latest round of