Hi @sam0408 It was about the PORTDEX 62%Fe Australian fines FOT Qingdao- they hit 926 Yuan yesterday, which is the best price since November 2013. Currently equivalent to US$133.33/ wmt. But that was yesterday's IO price.
https://www.mysteel.net/article/5017723-050102/DAILY--China-portside-iron-ore-price-at-new-7-year-high.html
Look, there is no doubt Vale is shipping more ore out of Ponta da Madeira. As I write, there are three ore carriers in port, one of them a Valemax ship. They will load, and take six or seven weeks to reach China. So? They need to keep this up every day, day in, day out. Then they may reach the bottom end of their target. But the rainy season is coming, and the virus has not finished. Vale is Vale, the company of ships that run aground, dams that fail, mines that have caronavirus episodes that have taken out whole shifts, that get closed because of carona virus outbreaks. You can't expect their luck to hold long.
Final moments of the Valemax carrier, Stellar Banner, 13th June
Iron ore price, page-23110
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