WEEKLY: China's import iron ore prices inch up

Chinese prices for imported iron ore edged up over the week of August 31-September 4, albeit modestly, Mysteel's latest weekly report shows. Despite persistent pressure from softening fundamentals, the market mainly found support from rising freight costs, it notes.

On September 4, Mysteel PORTDEX 62% Australian Fines was assessed at Yuan 706/wmt ($105/wmt) FOT and including the 13% VAT, up Yuan 1/wmt from a week prior, while Mysteel SEADEX 62% Australian Fines gained $1.25/dmt on week to $101.25/dmt CFR Qingdao. Iron ore demand from domestic steelmakers remained dull during