WEEKLY: China's domestic iron ore concs prices weaken after CNY

Chinese prices for domestically-produced iron ore concentrates tracked lower in major producing areas last week as market sentiment remained weak after the Chinese New Year (CNY) holiday ended on February 23.

On February 27, for example, Mysteel assessed the offering price of 66% Fe grade iron ore concentrates in Tangshan in North China's Hebei province at Yuan 750/wmt ($109/wmt) excluding the 13% VAT, lower by 1.4% from February 13. "Steelmakers proactively lowered their bidding prices for domestic concs last week to