WEEKLY: China domestic iron ore prices diverge by region
Jul 14, 2020 11:30
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Steel producers in China adopted different pricing tactics when procuring domestically-produced iron ore over July 6-10, with those in North and East China cutting the prices together with softening imported iron ore, while the others in South and Southeast China raised their bids on their stable demand and limited supplies, Mysteel noted from the weekly survey.
Steel mills in North China’s Hebei and Shanxi, and East China’s Shandong and Anhui province lowered their buying prices of domestically-produced concentrates by Yuan 15-65/tonne ($2.1-9.3/t) early last week to reflect the softening in the prices of imported iron ore both for seaborne and port inventories over June 29-July 3.