DAILY: China import iron ore prices rise, trading steady
Nov 15, 2019 18:40
Chinese iron ore prices for port inventories and seaborne cargoes rose on November 15, thanks to the improved market sentiment, with Mysteel’s portside iron ore index climbing by another Yuan 13/wmt ($1.9/wmt) on day to reach Yuan 649/wmt FOT Qingdao and including the 13% VAT, while the 62% seaborne iron ore price picked up a tiny $0.9/dmt on day to make $84.6/dmt CFR Qingdao, Mysteel’s data shows.
Friday’s portside iron ore market continued to see relatively active trading, with some iron ore traders busily giving bids for their port inventories and trying to table higher offers. Some traders even insisted that they would not sell their ore at lower prices, Mysteel Global notes.
For their part, steelmakers were