Import iron ore prices for both port stocks and seaborne cargo in China showed a slight recovery on August 16, although purchases are still relatively weak.
In Qingdao, the price of Mysteel PORTDEX 62% Australian Fine increased 3 Yuan/wmt ($0.5/wmt) from last Friday to reach 1,143 Yuan/wmt FOT including 13% VAT today, while Mysteel SEADEX 62% Australian Fine index also recovered somewhat. It reached $161.2/dmt CFR Qingdao with $0.45/dmt last Friday. On Monday, purchases among steelmakers were still in a downward trend.
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