DAILY: Chinese imported iron ore prices drop, port trading picks up

China’s imported iron ore prices declined for both portside stocks and seaborne cargoes on February 13. Trading activity showed contrasting trends in the two markets, as port trading picked up markedly, yet no seaborne deals were reported.

On Friday, Mysteel PORTDEX 62% Australian Fines in Qingdao fell by Yuan 11/wmt ($1.6/wmt) from Thursday to Yuan 758/wmt FOT including the 13% VAT after holding steady for three consecutive days. Meanwhile, Mysteel SEADEX 62% Australian Fines decreased by a large $2.85/dmt on day to $98.5/dmt CFR Qingdao, the