China's imported IO price soften, interest wanes

Chinese prices of imported iron ore continued to slide on February 28, with Mysteel's 62% Portside Iron Ore Fines Index down by Yuan 3/wmt ($0.5/wmt) day on day to Yuan 557/wmt FOT Qingdao and including the 17% VAT. Mysteel's 62% Seaborne Iron Ore Fines Index also softened, dipping by $0.65/dmt on day to $78.85/dmt CFR Qingdao.