DAILY: China import iron ore prices drop further, sales rise

China's imported iron ore prices for both port stocks and seaborne cargoes lost more ground on February 3, while ore buying activity in the two markets became brisker.

On Tuesday, Mysteel PORTDEX 62% Australian Fines in Qingdao dropped to Yuan 784/wmt ($113/wmt) FOT and including the 13% VAT, down Yuan 6/wmt from Monday, and Mysteel SEADEX 62% Australian Fines fell by $0.75/dmt on day to $102.9/dmt CFR Qingdao. Derivative prices for the major ferrous commodities of steel, iron