WEEKLY: China's import iron ore prices mark time

Chinese prices for imported iron ore stayed rangebound at high levels last week, despite a marginal decline recorded over the period. Against the backdrop of elevated port stocks, prices were supported primarily by concerns over protracted geopolitical tensions in the Middle East, along with firm demand amid rising hot metal output at domestic steelmakers, according to Mysteel's latest weekly report.

By March 27, Mysteel PORTDEX 62% Australian Fines in Qingdao had dipped by Yuan 2/wmt ($0.3/wmt) on week to Yuan 777/wmt FOT and including the 13% VAT, while Mysteel SEADEX 62% Australian Fines had also lost a small $0.85/dmt on week to reach $110.05/dmt CFR Qingdao. As the U.S.-Iran conflict