China’s prices for imported iron ore have soared to 10-year highs in response to bullish market sentiment, with Mysteel SEADEX 62% Australian Fines, for example, hitting $187.85/dmt CFR Qingdao on April 20, a new record since March 2011.
On April 20 too, the most-traded iron ore contract on the Dalian Commodity Exchange (DCE) for September delivery climbed for the fourth consecutive session, rising by Yuan 38/dmt or 3.6% from the previous settlement price to close the daytime trading session at Yuan 1,100/dmt, according to DCE’s data.
