WEEKLY: China's import iron ore prices remain under pressure

Chinese imported iron ore prices fell further during June 29-July 3, dragged lower by softening steel prices in the seasonal summer lull, according to the findings of Mysteel's latest weekly report.

On July 3, Mysteel PORTDEX 62% Australian Fines was assessed at Yuan 700/wmt ($103.2/wmt) FOT and including the 13% VAT, down Yuan 11/wmt from the previous week, while Mysteel SEADEX 62% Australian Fines also slipped $0.75/dmt on week to $99.25/dmt CFR Qingdao. The recent weakness in iron ore prices can