WEEKLY: China's import iron ore prices stay rangebound at highs

Chinese prices for imported iron ore showed mixed trends across the portside and seaborne markets last week, though the prices remained elevated. The ongoing geopolitical tensions in the Middle East continued to underpin the commodity by keeping freight rates high, according to Mysteel's latest weekly report.

By March 20, Mysteel PORTDEX 62% Australian Fines in Qingdao had dropped by Yuan 8/wmt ($1.2/wmt) on week to Yuan 779/wmt FOT and including the 13% VAT, while Mysteel SEADEX 62% Australian Fines had inched up to $110.9/dmt CFR Qingdao, higher by $0.95/dmt on week. China's ferrous markets strengthened overall