WEEKLY: China's import iron ore prices gain ground

Chinese prices for imported iron ore increased across both spot and futures markets last week, mainly as supply pressure eased with a notable decline seen in portside inventories, according to Mysteel's latest weekly report.

By April 17, Mysteel PORTDEX 62% Australian Fines in Qingdao had risen by Yuan 10/wmt ($1.5/wmt) on week to Yuan 769/wmt FOT and including the 13% VAT, while Mysteel SEADEX 62% Australian Fines had also added $1.75/dmt on week to $108.1/dmt CFR Qingdao. Chinese integrated steelmakers maintained active production last