MONTHLY: China's import iron ore prices to face pressure in Oct

Prices for imported iron ore in China are expected to drop in October amid loosening supplies, notes Mysteel's latest monthly report on the commodity, pointing out that the pace of the decline could accelerate if mills cut production in response to deepening losses.

During September, the Mysteel SEADEX 62% Australian Fines index generally moved higher to range between $101.3/dmt and $106.35/dmt CFR Qingdao, with the monthly average price rising by $4/dmt on month to $105/dmt. The prices rose sharply at the beginning of this month, supported by a significant rebound in iron ore