WEEKLY: Weak restocking demand sinks China's import iron ore prices

Chinese prices for imported iron ore declined further last week, mainly as mill purchases of the commodity slowed further in the lead-up to the Chinese New Year (CNY) holiday that will begin this Sunday, according to Mysteel's latest weekly report.

By February 6, Mysteel PORTDEX 62% Australian Fines in Qingdao had declined by Yuan 30/wmt ($4.3/wmt) on week to Yuan 767/wmt FOT and including the 13% VAT, while Mysteel SEADEX 62% Australian Fines had also dropped $4.3/dmt on week to register $100.45/dmt CFR Qingdao, a more than five-month low. Hot