DAILY: China imported iron ore prices slump on bearish futures

Source: Mysteel Feb 20, 2024 19:24

The plummet in iron ore derivatives in Dalian led Chinese prices of imported iron ore for both port stocks and seaborne cargoes to lose more ground on February 20 and reach nearly a four-month low.

On Tuesday, Mysteel PORTDEX 62% Australia Fines in Qingdao plunged Yuan 42/wmt ($5.8/wmt) on day to sit at Yuan 962/wmt FOT and including the 13% VAT, while on same day, Mysteel SEADEX 62% Australian Fines also dropped to $122.2/dmt CFR Qingdao, lower by $5.9/dmt from Monday. On the Dalian Commodity