WEEKLY: China's import iron ore prices remain weak

Chinese prices for imported iron ore continued to decline during the week of May 25-29, pressured by weakening steel prices and mounting concerns over rising availability, the findings of Mysteel's latest weekly report showed.

By May 29, Mysteel PORTDEX 62% Australian Fines in Qingdao had dropped Yuan 8/wmt ($1.2/wmt) on week to Yuan 762/wmt FOT and including the 13% VAT, while Mysteel SEADEX 62% Australian Fines also slipped $1.1/dmt on week to $106.85/dmt CFR Qingdao. With China's traditional off-season for steel consumption approaching in