WEEKLY: China's iron ore prices drop amid weak supply, demand

Prices of imported iron ore in China slipped further during December 23-27 after the steelmaking material's demand and supply dynamics had weakened, according to Mysteel's latest weekly report.

The dull demand for iron ore was mainly caused by the reduction in hot metal production among steelmakers, with more mills conducting annual overhauls on their blast furnaces. Mysteel's latest survey showed that during December 20-26, the average hot metal output of the 247 Chinese steelmakers it regularly checks