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DAILY: China imported iron ore price down as buying cools

ABSTRACT

China's imported iron ore prices for both seaborne cargoes and port stocks softened on October 27, affected by weakening buying interest.
On October 27, Mysteel PORTDEX 62% Australian Fines in Qingdao declined Yuan 7/wmt ($1.1/wmt) on day Yuan 867/wmt FOT and including the 13% VAT. The same day, Mysteel SEADEX 62% Australian Fines dropped $1.45/dmt on day to $119.65/dmt CFR Qingdao.   Iron ore traders responded to increasingly bearish sentiment in the market

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