DAILY: China seaborne iron ore prices at new 7-year high

Though weakening sentiment made for lackluster trading, China’s imported iron ore market on December 3 saw prices for both port inventories and seaborne cargos make further gains.

Mysteel’s PORTDEX 62% Fe Australian Iron Ore Fines rose for the second day, adding Yuan 6/wmt ($0.9/wmt) on day to reach Yuan 921/wmt FOT Qingdao and including the 13% VAT on Thursday. The Mysteel SEADEX 62% Fe Australian Iron Ore Fines price increased too, climbing by $1.4/dmt on day