WEEKLY: China's import iron ore prices lose more ground

Chinese prices for imported iron ore slipped further during the week of May 18-22, driven by a combination of softening cost expectations and weakening steel demand, the findings of Mysteel's latest weekly report showed.

By May 22, Mysteel PORTDEX 62% Australian Fines in Qingdao had dropped Yuan 17/wmt ($2.5/wmt) on week to Yuan 770/wmt FOT and including the 13% VAT, while Mysteel SEADEX 62% Australian Fines had also lost $3.15/dmt on week to $107.95/dmt CFR Qingdao. Although negotiations between the U.S. and Iran to