China iron ore prices rise, demand pressure remains

China’s prices of imported iron ore recovered from their 16-month lows over the past two days following the Mid-Autumn Day holiday, but market watchers question whether the recovery will continue as the demand pressure seems unlikely to ease anytime soon.
 SEADEX 62% Australian Fines had gained to $108.2/dmt CFR Qingdao, up from $90.9/dmt on September 21, a low since May 14 2020. Mysteel PORTDEX 62% Australian Fines in Qingdao also recovered to Yuan 762/wmt ($117.9/wmt) FOT and including 13% VAT by the same day, rebounding from Yuan 726/wmt.