DAILY: China iron ore portside prices retreat, trade picks up

Chinese imported iron ore prices for port inventories snapped the increases seen over the past three workdays on October 29 and edged down, while trading activity in the portside market improved.

On Tuesday, Mysteel's PORTDEX 62% Australian Fines in Qingdao sat at Yuan 770/wmt ($107.9/wmt) FOT and including the 13% VAT, falling by Yuan 3/wmt from Monday. However, Mysteel SEADEX 62% Australian Fines increased for the fourth straight workday by $0.2/dmt on day to reach $103.35/dmt CFR Qingdao. The optimism in