DAILY: China's iron ore prices soften as futures retreat

China's imported iron ore prices edged down slightly in both the portside and seaborne markets on July 7, following the retreat seen in iron ore futures prices in Dalian. Meanwhile, buying activity for the steelmaking feed in the two markets was mixed on the same day.

On Monday, Mysteel assessed PORTDEX 62% Australian Fines in Qingdao at Yuan 723/wmt ($100.8/wmt) FOT and including the 13% VAT, dipping by Yuan 2/wmt from last Friday, while Mysteel SEADEX 62% Australian Fines also fell, easing by $0.5/dmt to sit at $94.7/dmt CFR Qingdao. Futures prices of iron ore and