China: Prices stable and inventories lower

摘要

There was talk of delivered prices in China reaching the high $160s/mt CFR, but no business has yet been reported above $165/mt CFR, though two traders reported deals as high as this level. Traders reported bids as high as $163-165/mt CFR. In the domestic market, granular prices at major ports were mostly around RMB 1,260-1,270/mt FCA, which is equivalent to the high $160s/mt CFR.