DAILY: China's imported iron ore prices fall, seaborne trading surges

China’s imported iron ore prices edged down for both portside stocks and seaborne cargoes on May 28. Meanwhile, buying activity tracked apart in the two markets, with seaborne transactions surging.

On Thursday, Mysteel PORTDEX 62% Australian Fines in Qingdao was assessed lower by Yuan 3/wmt ($0.4/wmt) from Wednesday at Yuan 759/wmt FOT including the 13% VAT, while Mysteel SEADEX 62% Australian Fines declined by $0.3/dmt on day to $106.5/dmt CFR Qingdao. In the derivatives market, domestic iron ore futures softened