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WEEKLY: China iron ore prices up, but demand still weak

ABSTRACT

Chinese prices of imported iron ore strengthened over the November 22-26 week following the recovery in domestic steel prices, Mysteel's data show. The uptick occurred even though real demand from steelmakers is yet to see any substantial improvement, industry watchers remarked.
Mysteel SEADEX 62% Australian Fines first rose to a high of $103.45/dmt on Wednesday before easing to $95.55/dmt by November 26, the data show. Nonetheless, the seaborne index was still up $3.8/dmt on week.   Similarly, Mysteel PORTDEX 62% Australian Fines in Qingdao also climbed to Yuan 682/wmt ($106.4/wmt) FOT and including

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