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WEEKLY: China’s domestic iron ore price up, supply tight

China’s iron ore mining companies raised their offering prices of domestically-produced concentrates by Yuan 10-60/tonne ($1.4-8.4/t) over May 25-29 with their stocks running low and in response to the strengthening in the imported iron ore prices, according to Mysteel’s latest weekly survey.
China’s domestic iron ore prices had been closely following the uptrend in the imported iron ore market where Mysteel’s PORTDEX 62% Fe Australian Fines grew another Yuan 32/wmt on week to Yuan 774/wmt FOT Qingdao including 13% VAT as of May 29, or close to its 10-month high. Among the increases,

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