DAILY: Imported iron ore prices slipping on thin trading

China’s imported iron ore prices for both port stocks and seaborne cargoes declined for a sixth day on August 7. Market sentiment stayed pessimistic and buying interest from mills subsided further. However, the pace of decline picked up against market anticipation.
On August 7, Mysteel assessed the 62% Fe Australian Iron Ore Index at $92.50/dmt CFR Qingdao and the 62% Fe Iron Ore Low Alumina Index at $92.90/dmt CFR Qingdao, both down $4.50/dmt on day, which was steeper than the $2.5/dmt decline on Tuesday but matching the decline in the front-month September SGX iron ore


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