Daily Updates On Domestic Iron Ore Market

SHANGHAI, May 18 (SMM) – Boosted by rising iron ore futures prices and imported ore prices, prices of domestic iron ore in Tangshan also rose. Major steel mills tried to bargain down purchase prices, but mines and dressing plants held back cargoes in hopes of higher prices as supply remains tight. Steel mills have no plans to reduce their production, except for routine maintenance. Major steel mills will issue bids tomorrow and may raise bid prices.