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FEATURE: Sagging fundamentals weaken China iron ore

Prices of imported iron ore in China will likely continue fluctuating at the relatively low levels prevailing now until fundamentals for the steelmaking raw material shrug off their present sluggishness, market watchers suggest.
“The core problem with iron ore prices currently springs from the depressed consumption of ore among Chinese steelmakers,” a Beijing-based iron ore analyst with a futures company noted. “It’s that simple.” As of August 20, Mysteel’s pricing index for seaborne 62% Australian iron ore fines had receded to $88.55/dmt CFR Qingdao

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