WEEKLY: China's import iron ore prices rise, fundamentals stay weak

Chinese imported iron ore prices continued to edge up during July 13-17, though the gains were modest, according to Mysteel's latest weekly report. The uptick contrasted with the persistently weak fundamentals in the broader market and was mainly driven by concerns over potential supply disruptions caused by the strike at BHP's operations in Port Hedland, survey respondents said.

On July 17, Mysteel PORTDEX 62% Australian Fines was assessed at Yuan 715/wmt ($105.6/wmt) FOT and including the 13% VAT, up Yuan 4/wmt from a week prior, while Mysteel SEADEX 62% Australian Fines also rose $0.55/dmt on week to $101.3/dmt CFR Qingdao. Last Thursday, workers at BHP's Port Hedland operations