DAILY: China iron ore prices inch up, portside sales rebound

Chinese prices of imported iron ore for both portside stocks and seaborne cargoes increased slightly on July 8. Meanwhile, ore buying in the portside market also rebounded after three consecutive working days of declines.

On Tuesday, Mysteel PORTDEX 62% Australian Fines in Qingdao rose to Yuan 725/wmt ($101/wmt) FOT and including the 13% VAT, up by Yuan 2/wmt on day, and Mysteel SEADEX 62% Australian Fines was assessed at $95.2/dmt CFR Qingdao, edging higher by $0.5/dmt from Monday. Prices of iron ore futures contracts