WEEKLY: China's iron ore concs price up but competitive

China’s major iron ore mining companies raised their offering prices since mid of April over June 1-5, with the highest increment being Yuan 100/tonne ($14/t), reflecting their near-term market confidence on low stocks at steel mills and the imported iron ore prices perching at their ten-month highs, according to Mysteel’s survey.

Throughout the whole week last week, China’s imported iron ore prices both for seaborne and port inventories had been steadily up, and Mysteel’s PORTDEX 62% Fe Australian Fines, for example, gained another Yuan 6/wmt on week to Yuan 780/wmt FOT Qingdao including 13% VAT as of June 5, and