WEEKLY: China's import iron ore prices decline further

Chinese prices for imported iron ore lost more ground during the week of June 1-5, mainly as the shrinking profit margins of steelmakers depressed the demand outlook, the findings of Mysteel's latest weekly report showed.

By June 5, Mysteel PORTDEX 62% Australian Fines in Qingdao had decreased Yuan 17/wmt ($2.5/wmt) on week to Yuan 745/wmt FOT and including the 13% VAT, while Mysteel SEADEX 62% Australian Fines had also dropped $3.65/dmt on week to $103.2/dmt CFR Qingdao. The increase in coking coal and coke prices