DAILY: China’s imported iron ore prices dip further

Prices of imported iron ore in China’s port and seaborne markets declined further on February 26, with Mysteel’s PORTDEX 62% Fe Australian iron ore fines dipping Yuan 19/wmt ($2.8/wmt) on day to reach Yuan 655/wmt FOT Qingdao and including the 13% VAT. At the same time, the SEADEX 62% Fe Australian iron ore fines index lost $2.9/dmt on day to reach $87/dmt CFR Qingdao.
On Wednesday, traders at ports kept their offer prices from Tuesday or trimmed them slightly to reflect yesterday’s decline in price. Most refused to entertain requests that they peg prices lower as they believe prices will continue to trend upward over the short term, market insiders revealed. For domestic steelmakers, most were cautious


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