China’s portside iron ore prices firm, trade cool

Mysteel’s PORTDEX 62% Fe Australian Iron Ore Fines index increased by Yuan 5/wmt ($0.7/wmt) on day to Yuan 966/wmt FOT Qingdao and including the 13% VAT on September 8, while the SEADEX 62% Fe Australian Iron Ore fines price declined by $0.55/dmt on day to $129.05/dmt CFR Qingdao the same day.

Traders’ offer prices for iron ore port stocks were mixed, with some pushing theirs higher by Yuan 5/wmt while others lowered theirs by as much as Yuan 10/wmt in the morning. Causing some market uncertainty was the move by authorities in several leading steelmaking cities in North China to temporarily tighten
Source: MySteel

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