WEEKLY: China's import iron ore prices weaken further ahead of holiday

Chinese prices for imported iron ore continued declining this week, mainly as restocking demand for the material has become muted with the Chinese New Year (CNY) holiday drawing nearer.

By February 13, Mysteel PORTDEX 62% Australian Fines in Qingdao dropped by Yuan 9/wmt ($1.3/wmt) on week to Yuan 758/wmt FOT and including the 13% VAT, while Mysteel SEADEX 62% Australian Fines also slipped $1.95/dmt on week to $98.5/dmt CFR Qingdao, the first time the price had fallen below