China’s domestic iron ore prices slip

Prices of domestically-produced iron ore concentrates in China’s major mining regions mostly declined over July 26-30, according to regular survey. Last week, demand among steelmakers softened further with the increasing number of production curbs being imposed on mills till year’s end. The price dip was also due to falling prices of imported iron ore, sources noted.

As of July 30, the offering prices of 65% Fe grade domestic iron ore concentrates in Shandong, in East China, had decreased by Yuan 75/dmt ($11.6/dmt) on week to Yuan 1,653/dmt EXW and including the 13% VAT.