WEEKLY China's import iron ore prices remain strong

Chinese prices for imported iron ore continued floating at highs during May 6-9, kept buoyant by the upward momentum of steel prices as steel demand remained steady and market sentiment positive, Mysteel's latest weekly report showed.

By May 9, a substitute working day for China's five-day May Day holiday, Mysteel PORTDEX 62% Australian Fines in Qingdao had risen by Yuan 3/wmt ($0.4/wmt) from May 6, the first working day after the holiday, to reach Yuan 800/wmt FOT and including the 13% VAT. Over the same period,