WEEKLY: China's import iron ore prices linger at highs

While prices of most ferrous products declined last week amid the prolonged Middle East tensions, Chinese prices for imported iron ore dropped only slightly and remained at relatively high levels, new Mysteel data show.

By April 3, Mysteel PORTDEX 62% Australian Fines in Qingdao had eased by just Yuan 8/wmt ($1.2/wmt) on week to Yuan 769/wmt FOT and including the 13% VAT, while Mysteel SEADEX 62% Australian Fines dipped $0.5/dmt on week to $109.55/dmt CFR Qingdao. The resilience of iron ore prices was twofold.