WEEKLY: Support for China's import iron ore prices weakens

Prices for imported iron ore in China finished the December 1-5 week at odds, with portside prices ending lower and seaborne sneaking higher, the latest Mysteel index data shows. But this week will likely see both decline as the supply surplus persists and demand softens, market sources say.

By December 5, Mysteel PORTDEX 62% Australian Fines in Qingdao had dropped by Yuan 7/wmt ($1/wmt) on week to Yuan 790/wmt FOT and including the 13% VAT, while Mysteel SEADEX 62% Australian Fines inched up by $1/dmt on week to $105.7/dmt CFR Qingdao. "The small growth of Australian fines prices