Poor demand sinks China iron ore prices

Poor demand sinks China iron ore prices
Nov 13, 2021

China's iron ore prices in both the physical and futures markets plunged further over November 1-5, as demand from domestic steelmakers was rather sluggish amid continuing production curbs and the mills' shrinking steel margins, according to market sources on Monday.

As of November 5, Mysteel PORTDEX 62% Australian Fines in Qingdao had plummeted by another Yuan 98/wmt ($15.3/t) on week to Yuan 694/wmt FOT and including the VAT, the lowest since mid-May 2020. By the same day, Mysteel SEADEX 62% Australian Fines had also refreshed the low since September 21 to settle at $93.85 CFR Qingdao, or down another $13.7/dmt on week.

Source : Kallanish

Back to News & Announcements