DAILY: China's imported iron ore prices retreat

After rising strongly for two days straight, Chinese prices for imported iron ore retreated for both port stocks and seaborne cargoes on January 8 as market sentiment cooled, while transactions tracked apart in the two markets.

On Thursday, Mysteel PORTDEX 62% Australian Fines in Qingdao dropped by Yuan 11/wmt ($1.6/wmt) from Wednesday to reach Yuan 825/wmt FOT and including the 13% VAT. The same day, Mysteel SEADEX 62% Australian Fines was assessed at $108.8/dmt CFR Qingdao, lower by $0.2/dmt on day. The performance of iron ore