This is, of course, from yesterday. Note the significance of the smooth destocking of old standard rebar, the lack of which caused the sharp dip in IO prices back in early to mid August.

prices for imported iron ore followed the small rebound in the futures prices of the commodity in the country during August 19-23, as market sentiment improved with the smooth destocking of old-standard rebar.

WEEKLY SUMMARY: China's iron ore prices rise, spot
coke slips further

Source: Mysteel Aug 26, 2024 13:10

CokeIron Ore Price

Spot Chinese prices for imported iron ore followed the small rebound in the futures prices of the commodity in the country during August 19-23, as market sentiment improved with the smooth destocking of old-standard rebar. Although major metallurgical coke futures in Dalian also rallied last week, spot prices of coke trended lower due to another bout of coke price cuts by steel mills.Iron ore: On August 23, Mysteel SEADEX 62% Australian Fines stood at $95.85/dmt CFR Qingdao, rising by $4.1/dmt on week, while Mysteel PORTDEX 62% Australian Fines in Qingdao also climbed by Yuan 18/wmt ($2.5/wmt) to reach Yuan 725/wmt FOT and including the 13% VAT over the same period.

https://www.mysteel.net/market-insights/5060921-weekly-summary-chinas-iron-ore-prices-rise-spot-coke-slips-further