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WEEKLY: China iron ore prices up despite demand weak

ABSTRACT

Chinese prices of imported iron ore climbed further over the November 29-December 3 week amid improved market sentiment, especially among iron ore traders, Mysteel's data show. The uptick occurred despite the fact that real demand for ore from steelmakers remains relatively weak, industry watchers remarked.
As of December 3, Mysteel SEADEX 62% Australian Fines stood at $101.05/dmt CFR Qingdao, up $5.5/dmt on week, and Mysteel PORTDEX 62% Australian Fines in Qingdao also climbed Yuan 34/wmt ($5.3/wmt) on week to Yuan 675/wmt in terms of FOT and including the 13% VAT, mainly in line with the

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