WEEKLY China's import iron ore prices weaken

Chinese prices for imported iron ore dipped slightly during September 21-25, mainly pressured by weakening demand as steelmakers trimmed production further, Mysteel's latest weekly report shows.

By September 25, Mysteel SEADEX 62% Australian Fines had fallen by $1.55/dmt on week to $96.65/dmt CFR Qingdao. Meanwhile, on September 24, the last working day before China's three-day Mid-Autumn Festival holiday, Mysteel PORTDEX 62% Australian Fines was assessed at Yuan 681/wmt ($101.4/wmt) FOT and including the 13% VAT,