China’s domestic iron ore concentrate prices dipped again over August 26-30, falling by another Yuan 3-70/tonne ($0.4-9.8/t) on week, with offer prices being lower than procurement prices from Chinese steel mills as sellers tried to increase sales, according to Mysteel’s latest weekly survey.
As of August 30, Beipiao, in Northeast China’s Liaoning province, saw its 66% grade iron ore concentrates offer price fall the most, dropping by Yuan 70/wmt on week to Yuan 600/wmt EXW and excluding 13% VAT to reach a 19-week low since April 9. Unlike miners in Liaoyang and Fushun in