SHANGHAI, May 25 (SMM) – The recent continuous drop in imported ore prices enabled major steel mills in Tangshan to lower iron ore bid prices by 30 yuan/mt to 950-960 yuan/mt (dry basis, including tax, delivery to factory) yesterday. However, one steel mill may have to hike bid prices tomorrow as no one is willing to sell iron ore to it at lower prices today. One mine was found mining illegally, which may affect production resumptions of local mines in the future. It is expected that iron ore prices in Tangshan will continue to fall in the short term.
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