DAILY: China's imported iron ore prices drop, sales recover

Chinese prices of imported iron ore for both portside stocks and seaborne cargoes declined moderately on June 11 after a short-lived one-day uptick the previous day. Transaction volumes in the two markets rebounded on the same day.

On Thursday, Mysteel PORTDEX 62% Australian Fines in Qingdao was assessed at Yuan 736/wmt ($109/wmt) FOT including the 13% VAT, dipping by 8/wmt on day, while Mysteel SEADEX 62% Australian Fines also declined by $0.25/dmt on day to $102.85/dmt CFR Qingdao. In the derivatives market, domestic iron ore prices lost