WEEKLY: China iron ore concs prices soften, trading low

Chinese steel mills were cautious about buying domestic iron ore concentrates over June 29-July 3, as prices of imported iron ore ebbed during the period, according to Mysteel’s weekly survey. Thus, domestic miners in some regions cut their offer prices by Yuan 10-30/tonne ($1.4-4.3/t) from June 28 in their attempt to boost sales, the survey showed.

June 28 was a designated working day after China celebrated the Dragon Boat Festival over June 25-26, Mysteel Global noted. As of July 3, China’s imported iron ore market had weakened in the wake of the continued softening of domestic steel sales and prices. Mysteel’s PORTDEX 62% Fe Australian Fines