WEEKLY: Pressure on China's import iron ore prices mounts

Prices for imported iron ore in China dropped slightly during December 8-12, as weak fundamentals continued to depress ore prices in the absence of positive macro-economic news that might have bolstered market sentiment.

By December 12, Mysteel PORTDEX 62% Australian Fines in Qingdao had dropped by Yuan 4/wmt ($0.6/wmt) on week to Yuan 786/wmt FOT and including the 13% VAT, while Mysteel SEADEX 62% Australian Fines had also dipped $2/dmt on week to $103.7/dmt CFR Qingdao. That China's two-day Central Economic Work Conference