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China mills’ domestic iron ore stocks hit 22-week low

Most Chinese steel mills are less interested in buying domestic iron ore concentrates these days, market sources said on Friday. Compared with imported iron ores, locally produced concentrates have lost their cost competitiveness, they said, with the result that during the week of October 31-November 13, steelmaker stocks of the concs had slipped to a 22-week low.
As of November 13, the stocks of domestic sintering concentrates at the 64 Chinese steel mills across China regularly monitored by Mysteel had dipped to 807,800 tonnes, down by 35,700 tonnes or 4.2% on fortnight and a new low since May 22, according to Mysteel’s latest bi-weekly survey. Over recent weeks,

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