CHINA: Traders are soliciting freight cover for numerous cargoes sold into Latin America in recent weeks. Domestic prices are moving lower, with quotes in Shandong reported as low as Rmb1,500-1,520/mt FOT ex plant this week. Adding transit costs at Rmb120/mt and the 7% export tax, the low number equates to about $255/mt FOB for export. The renminbi was quoted at Rmb6.78 against the US dollar at press time.
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