WEEKLY: China's import iron ore prices head south

Prices for imported iron ore in China recorded notable declines over November 3-7, as weakening fundamentals took hold to erase the previous week's sentiment-driven increase, Mysteel Global notes.

By November 7, Mysteel PORTDEX 62% Australian Fines in Qingdao had decreased by Yuan 30/wmt ($4.2/wmt) on week to reach Yuan 776/wmt FOT and including the 13% VAT, reversing the Yuan 25/wmt on-week increase a week earlier. Meanwhile, Mysteel SEADEX 62% Australian Fines also lost a marked $5.55/dmt on